Freeport-McMoran (FCX) Announces Expiration of Consent Solicitations; Majority Not Received

September 29, 2016 6:15 AM EDT

Get access to the best calls on Wall Street with's Ratings Insider Elite. Get your Free Trial here.

Freeport-McMoRan Inc. (NYSE: FCX) announced 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.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Corporate News

Add Your Comment