Peabody Energy Corp.'s (BTU) A$4.9 billion bid for Australian coking coal miner Macarthur Coal Ltd. (MCC.AU) is inches away from completion Monday, after the world's largest private-sector coal miner said it has acquired 87.8% of the shares in Macarthur.

The move gets Peabody within reach of the 90% level at which it can forcibly buy out remaining minority shareholders in Macarthur and the offer price rises automatically to A$16.25 a share from A$16.00/share.

-By David Fickling, Dow Jones Newswires; +61 2 8272 4689; david.fickling@dowjones.com

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