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Freeport-McMoRan Copper & Gold Inc. Comments on Plains Exploration & Production Company Transaction – Agreed Terms Are “Best and Final”

PHOENIX--(BUSINESS WIRE)--Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) today reiterated its support for its proposed transaction with Plains Exploration & Production Co. (NYSE:PXP) and its commitment to completing the transaction on the terms agreed with the PXP Board of Directors. FCX and a Special Committee of its Board of Directors formed to consider the transaction also announced that the agreed terms are “best and final” and that Freeport did not intend to increase the consideration offered to PXP shareholders.