Noble has 'no interest' in Macarthur

Singaporean company the Noble Group has dampened suggestions it may still be
considering cutting a deal with Macarthur Coal Ltd.
"The Noble Group notes there has been speculation in the press and elsewhere of
renewed interest on the part of Noble to restart discussions with Macarthur Coal,
its advisers, or other parties, regarding a potential merger transaction with
Macarthur related to coal assets, or rights, controlled or owned by Noble," it told
the Singapore stock exchange on Friday.
"Noble wishes to categorically state it has no interest whatsoever at this juncture
in having any discussions regarding this matter, directly or indirectly, with
Macarthur, members of its board, its advisers, or any other parties positioning
themselves as direct or indirect intermediaries with respect to this concept.
"This is one of those times where there may be a great deal of smoke, but there is
no fire," Noble said.
On Wednesday Macarthur extended its takeover offer period for Gloucester Coal Ltd
until May 13.
Gloucester's major shareholder is the Noble Group, and Macarthur has been seeking to
take over Gloucester in a complex deal that would have delivered it the Middlemount
coal mine in central Queensland.
The deal would have also given the Noble Group a 24 per cent stake in the merged
entity.
Macarthur's plans to take over Gloucester were made more difficult by a bidding war
that broke out for Macarthur, which has seen US coal giant Peabody Energy make a
$4.07 billion offer.
Noble's shareholders last week rejected the sale of Gloucester to Macarthur.
Shares in Macarthur finished down 26 cents at $15.47 while Gloucester Coal shares
were up 10 cents, at $12.15.



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