Freeport, Plains sweeten deal for shareholders

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Freeport-McMoRan Copper & Gold Inc and Plains Exploration & Production Co said they would pay shareholders more in dividends if they approved the miner's roughly $6 billion takeover offer for Plains.

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Shareholders are set to vote on the deal later on Monday.

Plains said in a statement that it would pay shareholders a special one-time cash dividend of $3 per share immediately before the Freeport deal closed. Freeport said it would declare a $1 per share stock dividend immediately after the deal closed.

 

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