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