Plains Exploration & Production Co
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CNBC's David Faber reports the latest details on Arrowgrass Capital Partners' opposition of FCX's takeover of Plains Exploration.
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PHOENIX-- Mining company Freeport-McMoRan Copper& Gold, which is on the process of acquiring Plains Exploration& Production Co., said Thursday that about 46 percent of that company's shareholders have elected to receive stock for their shares, while 29 percent have chosen to receive cash.
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May 13- The chief executive of Plains Exploration& Production Co urged shareholders on Monday to vote in favor of Freeport McMoRan Copper& Gold Inc's proposed takeover of the energy company.
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May 9- Freeport-McMoRan Copper& Gold Inc said on Thursday it does not plan to raise its more than $6 billion offer for Plains Exploration& Production Co, calling the terms of the friendly deal "best and final." That was below the value of Freeport's cash and stock bid for the company, currently worth around $46.50.
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May 9- Freeport-McMoRan Copper& Gold Inc said on Thursday it does not plan to raise its offer for Plains Exploration& Production Co, calling the terms of the friendly deal "best and final." CR Intrinsic, a unit of high-profile hedge fund SAC Capital Advisors, has said it plans to vote its 3.8 percent stake against the acquisition.
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*Plains shares rise, trade at premium to Freeport offer. *Freeport says committed to completing deal, no reason to raise bid.
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*Plains shares rise, now trading at premium to Freeport offer. Institutional Shareholder Services agreed in its report that the Freeport offer is too low, adding that "even at the announcement day valuation of $49.55, the transaction would offer little or no takeover premium to the current stand-alone value.
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May 7- Proxy advisory firm ISS said Plains Exploration& Production Co. shareholders should vote against the more than $6 billion proposed takeover of the oil and gas company by Freeport-McMoRan Copper& Gold Inc., dealing a blow to the miner as shareholder resistance to the deal intensifies.
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May 7- Proxy advisory firm ISS said Plains Exploration& Production Co. shareholders should vote against the more than $6 billion proposed takeover of the oil and gas company by Freeport-McMoRan Copper& Gold Inc., dealing a blow to the miner as shareholder resistance to the deal intensifies.
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May 7- Proxy advisory firm ISS said Plains Exploration& Production Co shareholders should vote against the proposed takeover of the oil and gas company by Freeport-McMoRan Copper& Gold Inc, arguing that the mining company's more than $6 billion bid is too low.
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May 7- Proxy advisory firm ISS said Plains Exploration& Production Co shareholders should vote against the proposed takeover of the oil and gas company by Freeport-McMoRan Copper& Gold Inc, arguing that the mining company's more than $6 billion bid is too low.
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CNBC's David Faber reports the latest details on Arrowgrass Capital Partners' opposition of FCX's takeover of Plains Exploration.
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**Germany's Hochtief AG has agreed to the 1.1 billion euros sale of its airports division, ending a lengthy quest for a buyer and giving fresh impetus to a strategy rethink led by its CEO appointed just six months ago.
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May 7- Proxy advisory firm ISS said Plains Exploration& Production Co. shareholders should vote against the more than $6 billion proposed takeover of the oil and gas company by Freeport-McMoRan Copper& Gold Inc., dealing a blow to the miner as shareholder resistance to the deal intensifies.
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May 6- CR Intrinsic said on Monday it plans to vote against Freeport McMoRan Copper& Gold Inc's acquisition of Plains Exploration& Production Company because it undervalues the oil and gas company. The acquisition is part of Freeport's big bet on the energy industry, a deal to acquire both Plains and the related McMoRan Exploration Co announced in December.
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NEW YORK, May 2- Planned month-long maintenance at a major BP. Plains said it had been notified by BP that the plant would be shut for 36 days beginning on May 3; the planned maintenance had been announced in 2012. The plant processes production from wells in the eastern corridor of the deepwater Gulf of Mexico. Na Kika, also operated by BP, can pump 110,000 bpd.
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NEW YORK, May 2- Planned month-long maintenance at a major BP. gas processing plant in Pascagoula, Mississippi, will shut in a "tremendous" amount of Gulf of Mexico oil production, the chief executive of Plains Exploration& Production.
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NEW YORK, May 2- BP. The company said it had been notified by BP about the shutdown of the plant, which processes production from wells in the eastern corridor of the deepwater Gulf of Mexico. A BP spokesman said the company typically does not comment on day-to-day activities at BP operations.
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NEW YORK, May 2- BP. unit BP America Corp. will shut its Pascagoula gas processing plant in Mississippi for 36 days of planned maintenance beginning on May 3, Plains Exploration& Production. said in a release on Thursday.
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With reassurances that the Fed will keep on easing, markets turn their attention to the European Central Bank Thursday, hoping for a rate cut.
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*Adjusted Q1 earnings $0.73/ share versus Street view $0.71. *Shares rise 0.9 percent to $28.25 on NYSE. April 18- Freeport-McMoRan Copper& Gold Inc sought to shore up shareholder support for its foray into the U.S. energy sector on Thursday by highlighting the benefit of diversifying into oil and gas at a time when metal prices are softening.