Macarthur rejects Peabody's $3.3 billion offer

MELBOURNE, April 7 (Reuters) - Australia's Macarthur Coal MCC.AX rejected on Wednesday a sweetened A$14-a-share bid by top U.S. coal miner Peabody Energy (BTU.N) worth A$3.56 billion ($3.27 billion).

Macarthur also said it would go ahead and seek shareholder approval at a meeting on April 12 for its plan to take over smaller domestic rival Gloucester Coal (GCL.AX).

"Peabody's revised proposal remains highly conditional and does not fully value Macarthur and its significant growth prospects," Macarthur Chairman Keith De Lacy said in a statement. (Reporting by Sonali Paul; Editing by Mark Bendeich)