Freeport-McMoRan (FCX) on Watch after McMoRan Exploration (MMR) Davy Jones Update

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Freeport-McMoRan Copper & Gold (NYSE: FCX) is on watch Thursday following news that takeover target McMoRan Exploration (NYSE: MMR) had "limited success" in unblocking Davy Jones No. 1.

On December 5, Freeport-McMoRan announced plans to acquire both Plains Exploration & Production Company (NYSE: PXP) and McMoRan Exploration Co. (NYSE: MMR). The transactions are expected to close in the second quarter of 2013.

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