- As Freeport McMoRan’s (FCX -0.5%) disagreement with Indonesia nears a resolution, any strategic move is now possible, including acquisitions, partnerships or even a sale of the entire company, CEO Richard Adkerson tells Bloomberg.
- FCX plans to remain an independent entity, "but if an opportunity for us to sell to another company would arise, and that would be good for our shareholders, you would see us trying to get the best deal we can get as opposed to being a company where management is trying to protect itself,” Adkerson says.
- Acquisitions are harder to justify than spending to expand FCX's existing portfolio of mining assets, the CEO says, arguing that “we’re getting virtually no value at our share price today from our resources.”
- Partnerships with Chinese companies also are an option but any sort of merger likely would not be approved by U.S. regulators, who see copper as a strategic metal, Adkerson says.
- Now read: A Structural Valuation Of Freeport-McMoRan
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