SAC Capital May Block Freeport Energy Deal – ValueWalk Premium
SAC Capital Advisors

SAC Capital May Block Freeport Energy Deal

SAC Capital's unit CR Intrinsic has sent a letter to the board of Plains Exploration & Production Company (NYSE:PXP) stating that it will vote against an acquisition bid from Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX). The hedge fund unit says that the deal undervalues the company according to its own analysis. The story was originally reported by Reuters earlier today.

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