Phoenix, November 17, 2023–(Business Wire)–Freeport-McMoRan Inc. (NYSE: FCX) has been informed by TRC Capital Investment Corporation (TRC) that it is making an unsolicited “mini-tender” offer to FCX shareholders to purchase up to 3,000,000 shares. The current market price of FCX common stock is less than $32.20 per share. The offer price of TRC is approximately 4.4% below the $33.69 per share closing price of FCX common stock on November 10, 2023, the last trading day before the offering date, and approximately 4.4% below the $35.54 per share closing price of FCX common stock. 10% less. Stock on November 16, 2023.
FCX recommends that shareholders not tender their shares. FCX recommends that shareholders who have not responded to the TRC offering take no action. Pursuant to TRC’s current offering documents, FCX shareholders who tender (or have already tendered) shares will be required to tender shares at any time before 12:01 a.m. New York City time on December 13, 2023, by following the procedures described in the offering documents. You can withdraw your shares at any time. ,
FCX does not endorse this unsolicited mini-tender offer, and FCX is not affiliated or associated in any way with the TRC, the TRC’s mini-tender offer, or the mini-tender offer documentation. FCX requests that a copy of this press release be included with all distributions of materials relating to the TRC mini-tender offer relating to FCX’s common stock.
The U.S. Securities and Exchange Commission (SEC) has cautioned investors about mini-tender offers, stating that mini-tender offers are “increasingly being used to harass investors, and to mislead investors.” Can sell its securities at “below market prices.” The SEC’s guidance for investors on mini-tender offers is available at http://www.sec.gov/investor/pubs/minitend.htm.
Freeport: leader in copper
FCX is a leading international mining company headquartered in Phoenix, Arizona. FCX operates large, long-term, geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum. FCX is one of the world’s largest publicly traded copper producers.
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FCX’s portfolio of assets includes the Grasberg Mineral District in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in North America and South America, including the massive Morenci mineral district in Arizona and the Cerro Verde operation in Peru.
By supplying responsibly produced copper, FCX is proud to be a positive contributor to the world beyond its operational boundaries. Additional information about FCX is available on the FCX website at fcx.com.
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