Mcmoran Exploration Co : McMoRan Exploration Investor Alert: Briscoe Law and Powers Taylor Investigate Sale to Freeport-McMoRan Copper & Gold
12/07/2012| 10:25am US/Eastern
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Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating the sale of McMoRan Exploration Co.
("MMR") (NYSE: MMR) to Freeport-McMoRan Copper & Gold, Inc. ("FCX") for
shareholders. Under the terms of the proposed deal valued at
approximately $3.4 billion, MMR shareholders will only receive
approximately $14.75 in cash, without interest, and 1.15 units of a
royalty trust to be create prior to the closing of the merger. The
proposed sale is well below at least one analyst's estimated value of
$21.00 per share.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The MMR sale investigation centers on whether MMR shareholders are
receiving adequate compensation for their shares in the buyout, whether
the transaction undervalues MMR stock, and whether MMR's board attempted
to obtain the highest share price for all shareholders prior to agreeing
to the deal. Notably, at least one analyst with Yahoo! Finance has
estimated that the true inherent value of MMR stock could be as high as
$21.00 per share. According to shareholder rights attorney Patrick
Powers, "due to analysts' estimates, the size of the deal and other
factors, we believe that this transaction may undervalue MMR stock. Our
lawsuit will seek to obtain the highest share price for all
shareholders."
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
© Business Wire 2012
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