at Zacks.com (Wed, 9:03AM)
It's official: Freeport McMoRan (FCX) will acquire Plains Exploration (PXP) for ~$6.9B in cash...
It's official: Freeport McMoRan (FCX) will acquire Plains Exploration (PXP) for ~$6.9B in cash and stock, and acquire McMoRan Exploration (MMR) for ~$3.4B in cash, or $2.1B net of 36% of the MMR interests currently owned by FCX and PXP. MMR +74.3%, PXP +25.2%, FXC -13.2% premarket.
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