Deals Rumor Mill: Freeport-McMoRan, Blackstone, Billabong

Law360, New York (May 20, 2013, 1:37 PM EDT) -- Freeport-McMoRan Copper & Gold Inc. has been holding talks with Plains Exploration & Production Co. after a lack of shareholder support has so far stymied its $6.9 billion takeover, sources told Bloomberg on Monday. The company and Houston-based Plains announced their merger in December, but since then, its stock value has plunged about 15 percent and Plains investors have been vocal in their opposition to the plan. In meetings last week, Freeport CEO Richard C. Adkerson told Plains shareholders that his company's $50-per-share offer could be sweetened —...
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