Coal miner Macarthur Coal Ltd
(ASX:MCC) has gone into a trading halt this morning after receiving an approach from a third party.
The company, who is currently in the process of negotiating a takeover of Gloucester Coal Ltd (ASX:GCL), placed its shares in halt while it considered interest from a third party in acquiring a controlling stake in the company.
Speculation is rife that major player in the private-sector, coal company Peabody Energy Corp has made the offer.
Macarthur Coal has requested that its shares remain in a trading halt until it can make an announcement regarding this potential interest in the company.
Macarthur Coal earned profit of $168.56 million in the year to June 30, 2009.
