CITIC Resources <1205.HK>, the largest shareholder in takeover target Macarthur Coal , has not yet decided whether to support a $3.8 billion bid for the Australian miner from Peabody Energy , Macarthur said on Monday.

CITIC Resources, which owns 22.4 percent of Macarthur, said it continues to support the rationale for Macarthur's rival plan to take over Gloucester Coal , which would give Hong Kong-based Noble Group a near one-quarter stake in Macarthur.

Peabody bid A$16 a share last week, topping an offer from Macarthur's local rival New Hope Corp .

(Reporting by Sonali Paul; Editing by Balazs Koranyi)

Macarthur Coal