Inform

Will Freeport-McMoRan exit the oil and gas sector again?

This report is currently unavailable

Further information

Contact us

Submit your details to receive further information about this report.

  • An error has occurred while getting captcha image
For details on how your data is used and stored, see our Privacy Notice.
 

Report summary

Freeport-McMoRan (FCX) is reviewing strategic alternatives for its oil and gas business following discussions with shareholders, and has announced that Board changes have been agreed with activist investor Carl Icahn – one of FCX's largest shareholders – in preparation for a potential spinoff. The conglomerate has been hit hard by the fall in oil and copper prices, with market value down almost 70% year-on-year. These latest announcements follow a series of moves made to address the near-term funding gap, including a lower dividend, cuts to the 2016 budget, and a US$1 billion equity raising.

What's included

This report contains

  • Document

    Will Freeport-McMoRan exit the oil and gas sector again?

    PDF 971.66 KB

Table of contents

  • Will Freeport-McMoRan exit the oil and gas sector again?

Tables and charts

This report includes 1 images and tables including:

Images

  • Benchmarking: share price performance

Questions about this report?

    • Europe:
      +44 131 243 4699
    • Americas:
      +1 713 470 1900
    • Asia Pacific:
      +61 2 8224 8898