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News Breaks
December 5, 2012
08:46 EDTMMR, FCXFreeport McMoRan acquires McMoRan Exploration for $3.4B in cash
Freeport McMoRan (FCX) said it has agreed to acquire McMoRan Exploration (MMR) for per-share consideration consisting of $14.75 in cash and 1.15 units of a royalty trust, which will hold a 5% overriding royalty interest in future production from MMR’s existing ultra-deep exploration properties. The cash consideration of $14.75 per share represents a premium of 74% to the MMR closing price on December 4. The cash portion of the transaction totals $2.1B, excluding payment for MMR interests currently held by FCX and PXP. The cash premium, excluding interests held by FCX and PXP, totals approximately $900M. The transaction is subject to the approval of the shareholders of MMR, including the approval of an amendment to MMR’s certificate of incorporation, receipt of regulatory approvals and customary closing conditions.
News For FCX;MMR From The Last 14 Days
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November 23, 2015
16:02 EDTFCXOptions Update; November 23, 2015
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November 18, 2015
10:33 EDTFCXFreeport McMoRan volatility elevated as copper near seven-year low
Freeport McMoRan November call option implied volatility is at 89, December is at 76; compared to its 52-week range of 25 to 94, suggesting large price movement as copper trades at six-year low.
November 17, 2015
16:01 EDTFCXOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
November 16, 2015
17:16 EDTFCXIcahn liquidated eBay stake, took Paypal stake
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16:00 EDTFCXOptions Update; November 16, 2015
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09:37 EDTFCXActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA

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