Freeport-McMoRan Copper & Gold Inc will not give its shareholders a vote on its planned acquisitions of two oil and natural gas companies, Chief Executive Richard Adkerson said on Tuesday. Freeport has offered to purchase Plains Exploration & Production Co and McMoRan Exploration Co for $9 billion, in a deal expected to close in the second quarter of 2013.
Freeport-McMoRan Copper & Gold Inc. (FCX) is an international mining company. Shares of FCX traded higher by 4.7% or $1.58/share to $35.22. In the past year, the shares have traded as low as $30.54 and as high as $48.96. On average, 19306000 shares of FCX exchange hands on a given day and today's volume is recorded at 12363684.
McMoRan Exploration Co. (McMoRan) is engaged in the exploration, development and production of oil and natural gas in the shallow waters (less than 500 feet of water) of the Gulf of Mexico and onshore in the Gulf Coast area of the United States. Shares of MMR fell by 0.25% or $-0.04/share to $15.96. In the past year, the shares have traded as low as $7.25 and as high as $16.13. On average, 5642370 shares of MMR exchange hands on a given day and today's volume is recorded at 345951.
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