What will happen to my shares of Phelps Dodge common stock as a result of the acquisition?
As a result of the acquisition, Phelps Dodge common stock is no longer publicly traded. Phelps Dodge stockholders are entitled to receive a combination of 0.67 of a share of Freeport-McMoRan common stock and $88.00 in cash, without interest, for each share of Phelps Dodge common stock. Any fractional share interest in the stock portion to which you are entitled will be paid to you in an amount equal to the fractional share interest multiplied by $60.71, the closing price of FCX common stock on March 16, 2007.
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