Freeport-McMoRan completes acquisition of Phelps Dodge

Reuters

March 19,2007

March 19 (Reuters) - Freeport-McMoRan Copper & Gold Inc. (FCX.N:)  said it completed its $26 billion acquisition of Phelps Dodge Corp. (PD.N:), creating the world's largest publicly traded copper mining company. Phelps Dodge's chief operating officer, Timothy Snider, will become president and COO of Freeport-McMoRan, while Phelps Dodge Chief Executive Steven Whisler and Chief Financial Officer Ramiro Peru will both retire, Freeport-McMoRan said in a statement.