The world's largest private coal miner and steelmaker by output Peabody Energy Corp. (BTU) and ArcelorMittal (MT), are on the brink of securing control of Australian coking coal miner Macarthur Coal Ltd. (MCC.AU), after securing the backing of the company's largest shareholder CITIC Group.

The Chinese state-owned investment body said it would accept the offer within the next 24 hours.

CITIC subsidiaries control around 25.2% of Macarthur shares, bringing the takeover partners to over 49% of Macarthur shares, the companies said in a statement.

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

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