Freeport McMoRan's (FCX +2.7%) planned acquisition of Plains Exploration (NYSE:PXP) likely will...

Freeport McMoRan's (FCX +2.7%) planned acquisition of Plains Exploration (NYSE:PXP) likely will close in June despite objections, Morgan Stanley predicts as it maintains an Outperform rating on the shares. Long-term FCX shareholders should be rewarded with strong growth through 2015 and lower political uncertainty, the firm says, adding that copper inventories are starting to decline.