Peabody Energy is quite happy with the deal in which it has overtaken Macarthur Coal Ltd. for 5.2billion dollars.

To prove this, they showed a PowerPoint presentation of two pictures. One of 20 years old in which there was not much development and second one had a close up of skyline depicting the rise in demand of steel. The move is said to be a big win and is aimed to expand the business in Asian market which according to St. Louis-based Peabody is a brighter market than that of the US.

Giving details about the deal, official source revealed that Peabody would have 60% of shares and rest 405 would be handled by ArcelorMittal. The deal is said to be the biggest one for the company as well as for the Boyce, who is leading the company. According to him, it is the key decision he has ever taken in last eight years. The deal would surely help the company to touch heights.

Professionals give all credit to the Boyce who was elected as CEO for the company in 2006. He had raised the profit of the company and as high as by triple. In 2002, the profit was 2.2 billion dollar and for 2010 the amount was 6.8 billion dollar.