DEAL ROSTER: Credit Suisse Advises Freeport on McMoRan and Plains Acquisitions
Freeport-McMoRan Copper & Gold Inc., a global mining company, agreed Dec. 5 to buy two related oil and gas companies: Plains Exploration & Production Co. and McMoRan Exploration Co.
The cash-and-stock Plains acquisition was valued at $10.2 billion at announcement, including debt, but that fell to about $9.5 billion yesterday after investors drove down Freeport’s shares 21 percent in two trading days after the deals were disclosed. The all-cash deal for the shares of McMoRan that the buyers don’t already own is valued at $2.6 billion.
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