Freeport-McMoran Copper & Gold (FCX -1.3%) says it will issue senior notes in order to fund...

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User 7576271 Comment (1)
 
Why is the stock price getting hammered. Less money for dividends?
28 Feb, 11:39 AM Reply Like

papayamon Comments (584)
 
well, this appears to be a dumb move on management's part. paying a high price for another company where there is no synergy with its existing business. i myself have to wonder why they're doing it - though i've been a buyer of fcx at current prices.
28 Feb, 11:42 AM Reply Like

ernstphall Comments (6)
 
Copper mining and oil recovery do have synergy, and the management of FCX has experience with oil. All this is basic resource work, not manufacturing or marketing.
28 Feb, 02:33 PM Reply Like

Sue Donim Comments (5)
 
Probably a Buffet style deal. 9% interest to some selected insider along with millions of warrants to buy the stock at $ 15.00. The current and previous shareholders get the shaft. Business as usual.
28 Feb, 12:03 PM Reply Like

tpasarow Comment (1)
 
What a bunch of losers. Maybe Carl Icahn will get involved and shake them up. The company needs management change.
28 Feb, 01:05 PM Reply Like

ernstphall Comments (6)
 
Mining has always been a shady business for passive investors, but these guys keep paying dividends and seem better than most.
28 Feb, 02:33 PM Reply Like