Freeport-McMoRan Announces Expiration of Consent Solicitations
September 28 2016 - 7:52PM
Business Wire
Freeport-McMoRan Inc. (NYSE: FCX) announced today the expiration
of the previously announced consent solicitations by it and its
wholly owned subsidiaries, Freeport-McMoRan Oil & Gas LLC (FM
O&G) and FCX Oil & Gas Inc. (FCX O&G). The consent
solicitations expired at 5:00 p.m., New York City time, on
September 28, 2016. As of the expiration time, FCX, FM O&G and
FCX O&G had not received the consent of holders of at least a
majority in aggregate principal amount outstanding of each series
of notes subject to the consent solicitations. As a result, no
consent fees will be paid and FCX plans to merge FM O&G into
FCX prior to completing its previously announced Deepwater Gulf of
Mexico sale transaction.
FCX is a premier U.S.-based natural resources company with an
industry-leading global portfolio of mineral assets. FCX is the
world's largest publicly traded copper producer.
FCX’s portfolio of assets includes the Grasberg minerals
district in Indonesia, one of the world's largest copper and gold
deposits; significant mining operations in the Americas, including
the large-scale Morenci minerals district in North America and the
Cerro Verde operation in South America. Additional information
about FCX is available on FCX's website at "fcx.com."
Cautionary Statement Regarding Forward-Looking
Statements: This press release contains forward-looking
statements, which are all statements other than statements of
historical facts, such as expectations related to FCX’s plans to
merge FM O&G into FCX and the consummation of the Deepwater
Gulf of Mexico sale transaction. The words “anticipates,” “may,”
“can,” “plans,” “believes,” “estimates,” “expects,” “projects,”
“targets,” “intends,” “likely,” “will,” “should,” “to be,”
”potential" and any similar expressions are intended to identify
those assertions as forward-looking statements. FCX cautions
readers that forward-looking statements are not guarantees of
future performance and actual results may differ materially from
those anticipated, projected or assumed in the forward-looking
statements. Important factors that can cause FCX’s actual results
to differ materially from those anticipated in the forward-looking
statements include the ability of the parties to satisfy closing
conditions to consummate the Deepwater Gulf of Mexico sale
transaction and other factors described in more detail under the
heading “Risk Factors” in FCX's Annual Report on Form 10-K for the
year ended December 31, 2015, filed with the U.S. Securities and
Exchange Commission (SEC) as updated by FCX’s subsequent filings
with the SEC.
Investors are cautioned that many of the assumptions upon which
FCX's forward-looking statements are based are likely to change
after the forward-looking statements are made, including for
example commodity prices, which FCX cannot control, and production
volumes and costs, some aspects of which FCX may not be able to
control. Further, FCX may make changes to its business plans that
could affect its results. FCX cautions investors that it does not
intend to update forward-looking statements more frequently than
quarterly notwithstanding any changes in its assumptions, changes
in business plans, actual experience or other changes, and FCX
undertakes no obligation to update any forward looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160928006549/en/
Freeport-McMoRan Inc.Financial Contacts:Kathleen L. Quirk,
602-366-8016orDavid P. Joint, 504-582-4203orMedia Contact:Eric E.
Kinneberg, 602-366-7994
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