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

Freeport-McMoran Copper & Gold (FCX -1.3%) says it will issue senior notes in order to fund new deals in the energy sector. The debt raise will be from a private placement.
Comments (6)
  • User 7576271
    , contributor
    Comment (1) | Send Message
     
    Why is the stock price getting hammered. Less money for dividends?
    28 Feb 2013, 11:39 AM Reply Like
  • papayamon
    , contributor
    Comments (1060) | Send Message
     
    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 2013, 11:42 AM Reply Like
  • ernstphall
    , contributor
    Comments (21) | Send Message
     
    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 2013, 02:33 PM Reply Like
  • Sue Donim
    , contributor
    Comments (14) | Send Message
     
    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 2013, 12:03 PM Reply Like
  • tpasarow
    , contributor
    Comment (1) | Send Message
     
    What a bunch of losers. Maybe Carl Icahn will get involved and shake them up. The company needs management change.
    28 Feb 2013, 01:05 PM Reply Like
  • ernstphall
    , contributor
    Comments (21) | Send Message
     
    Mining has always been a shady business for passive investors, but these guys keep paying dividends and seem better than most.
    28 Feb 2013, 02:33 PM Reply Like
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