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Freeport-McMoRan to buy Plains, McMoRan Exploration for $9 bln
December 5, 2012 / 1:51 PM / 5 years ago

Freeport-McMoRan to buy Plains, McMoRan Exploration for $9 bln

Dec 5 (Reuters) - Freeport-McMoRan Copper & Gold Inc said on Wednesday it would acquire Plains Exploration & Production Co and McMoRan Exploration Co in two separate deals for $9 billion in cash and stock.

Freeport said it would buy Plains for $6.9 billion in cash and stock. It would buy McMoRan Exploration for $2.1 billion cash after taking into account the stake in McMoRan that Freeport already owns.

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