M&A Deal Summary

Freeport-McMoRan Acquires Phelps Dodge

On November 19, 2006, Freeport-McMoRan acquired metals/mining company Phelps Dodge for 25.9B USD

Acquisition Highlights
  • This is Freeport-McMoRan’s 1st transaction in the Metals/Mining sector.
  • This is Freeport-McMoRan’s largest (disclosed) transaction.
  • This is Freeport-McMoRan’s 1st transaction in the United States.
  • This is Freeport-McMoRan’s 1st transaction in Arizona.

M&A Deal Summary
Date 2006-11-19
Target Phelps Dodge
Sector Metals/Mining
Buyer(s) Freeport-McMoRan
Deal Type Add-on Acquisition
Deal Value 25.9B USD
Advisor(s) Citigroup Investment Banking
Morgan Stanley (Financial)
Debevoise & Plimpton (Legal)

Target

Phelps Dodge

Phoenix, Arizona, United States
Phelps Dodge is a producer of copper and molybdenum and is the largest producer of molybdenum-based chemicals and continuous-cast copper rod. The company employs 15,000 people worldwide.

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Buyer(S) 1

Buyer

Freeport-McMoRan

Phoenix, Arizona, United States
Category Company
Founded 1987
Sector Metals/Mining
Employees27,200
Revenue 22.9B USD (2023)
DESCRIPTION
Entrance to Freeport-McMoRan's corporate headquarters in Phoenix, Arizona.
Entrance to Freeport-McMoRan's corporate headquarters in Phoenix, Arizona.

Freeport-McMoRan is an international natural resources company. Freeport-McMoRan operates large, long-lived, geographically diverse assets with reserves of copper, gold, molybdenum, cobalt, oil and gas. Freeport-McMoRan was founded in 1987 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 1 of 3
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Arizona) 1 of 1
Country (United States) 1 of 3
Year (2006) 1 of 1
Size (of disclosed) 1 of 3
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-12 Phelps Dodge International

Doral, Florida, United States

Phelps Dodge International Corp., is a cable producer. PDIC has manufacturing and distribution facilities around the world with leading market positions in South and Central America, Africa and Southeast Asia. In addition to 10 majority-owned manufacturing and numerous distribution facilities, PDIC also has equity positions in wire and cable companies in China, Hong Kong, and the Philippines.

Sell $735M
Mergr

Product

Company

Legal