Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to a huge copper mine in Indonesia.
Freeport-McMoRan Copper & Gold Inc., based in Phoenix, said Wednesday it is paying $6.9 billion in cash and stock for Plains Exploration & Production Co., and $2.1 billion for McMoRan Exploration Co. The miner also will assume $11 billion in debt in the deal.
— From wire reports
