Current Events Articles

AZ Central

Phoenix-based Freeport announces $20B in acquisitions

December 5, 2012

Freeport-McMoran Copper & Gold, already Arizona's largest and most profitable company, today announced $20 billion in two acquisitions that will put it into the big leagues of oil and natural gas production. The Phoenix-based mining giant said it will purchase Plains Exploration & Production Co. and the roughly two-thirds of McMoRan Exploration Co. not currently owned by Freeport-McMoRan and Plains. The combined $20 billion in acquisitions includes $10.5 billion in assumed debt, with the rest represented by a stock and cash purchase.

Read entire article on AZ Central
« Previous Article Next Article »

More From Current Events Articles

  • Andy Richter Irrationally Afraid of Cheerios Man-Bee
  • CNN's Dana Bash Doubles Down on Harry Reid's Tax Statement
  • Twindex Calculates the Twitterverse?s Political Sentiment
  • Best of Luxury

    Finding the best in luxury can be a daunting task, which is why we've taken it on for you.
    View All Best of Luxury