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The first installment of our new predictive index shows that dealmakers expect overall M&A to increase, with health care outperforming the overall market READ MORE 

SLIDESHOW

ACG New York Women of Leadership - Entrepreneur Series
Barbara Bradley Baekgaard, founder of Vera Bradley (Nasdaq: VRA), is the latest in a series of entrepreneurs highlighted at ACG New York Women of Leadership events. Photo credit: Robert Blumenfeld

Watercooler

GTCR, Hormel, the Riverside Co-CEOs and Others Win M&A Mid-Market Awards
Amid a slow and challenging year for dealmaking, the winners of Mergers & Acquisitions’ 7th Annual M&A Mid-Market Awards outpaced the competition to grow, innovate and lead the middle market

Roundtable

Financial Services Companies Heat Up M&A Market
Speakers from Flexpoint Ford, Genstar Capital, Baird Capital, Madison Capital Funding and Katten Muchin Rosenman discuss the various factors playing a role in M&A activity within the financial services space

Expert's Corner

Pursuing Pharma Manufacturing
The fragmented pharmaceutical manufacturing industry provides plenty of opportunities for private equity investors, says JLL Partners founder Paul Levy

Today's Transactions:
Freeport-McMoRan Spends $10.3B on Energy Assets

The Phoenix-based company's acquiring of Plains Exploration and McMoRan contributes to a string of recent energy deals

Mining company Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX)  has broadened its exposure within the energy market by spending a total of $10.3 billion on two rival oil and gas companies.

The Phoenix-based company agreed to acquire Plains Exploration & Production Co. (NYSE: PXP) for about $6.9 billion in cash and stock, as well as McMoRan Exploration Co. (NYSE: MMR) for about $3.4 billion in cash.

The combined companies will be a U.S.-based natural resource company with a portfolio of mineral assets and significant oil and gas resources.

Plains Exploration, which has a market capitalization of roughly $5.7 billion, has oil production facilities in California, as well as facilities in the deepwater Gulf of Mexico. McMoRan, with a market capitalization hovering $2.5 billion, focuses on shallow-water ultra-deep gas off the Gulf of Mexico.

Freeport-McMoRan is considerably larger with a market capitalization hovering $30.6 billion.  

The transaction contributes to a string of energy deals in 2012. On Dec. 5, Plains All American spent $500 million on four oil terminals. On Dec. 3, First Reserve purchased Ameriforge, and in November, Curtiss-Wright purchased Cimarron Energy.

For more coverage on energy M&A, see “Fracking Fuels Energy Deals.”

 

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