OGJ Newsletter

12/10/2012
GENERAL INTEREST — Quick Takes Mining firm to buy Plains E&P, MMR Exploration Freeport-McMoRan Copper & Gold Inc. reported plans Dec. 5 to acquire Plains Exploration & Production Co. and McMoRan Exploration Co. in cash-stock transactions to create what Freeport-McMoran is calling "a premier US-based natural resource company." The two acquisitions will create a corporation worth about $60 billion, including debt, Freeport-McMoRan said. Terms call for Freeport-McMoRan to pay $6.9 billion in cash and stock for Plains E&P and to pay $3.4 billion in cash for McMoRan Exploration. The $3.4 billion amounts to $2.1 billion net of 36% interest in McMoRan Exploration that...
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