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Freeport-McMoRan Copper & Gold Inc Completes Acquisition Of Plains Exploration & Production Company


Friday, 31 May 2013 08:19am EDT 

Freeport-McMoRan Copper & Gold Inc announced that it has completed acquisition of Plains Exploration & Production Company. This approximate $16.3 billion transaction included the assumption of $9.7 billion of PXP debt as of March 31, 2013, the payment of approximately $3.3 billion in cash ($25 per PXP share), the issuance of approximately 91 million shares of FCX common stock (0.6531 shares per PXP share), equivalent to a value of approximately $2.9 billion based on the closing price of FCX's common stock on May 30, 2013, and the value of the $3 per share PXP special cash dividend paid on May 31, 2013. 

Company Quote

39.04
0.3 +0.77%
9 Jul 2014