4 June 2013director interest notice● Neutral
FREEPORT-MCMORAN INC director Fry Thomas A III received 32,444 shares as part of the equity award.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
3 June 2013asset acquisition disposition● NeutralMajor
FCX completed its roughly $9 billion pivot into oil and gas: the Plains Exploration & Production (PXP) merger closed May 31, 2013 (~$46.01/share, cash or FCX stock) and the McMoRan Exploration (MMR) merger closed June 3, 2013 ($14.75 cash plus royalty trust units per share), funded partly by a new $4.0 billion term loan; FCX's board grew from 12 to 15 seats and PXP's ex-CEO James Flores became Vice Chairman and head of FCX's new oil and gas business.