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Article: Copper producer Freeport McMoRan's shares climb after Vale denies interest in acquisition
- Article from:
- AP Worldstream
- Article date:
- July 18, 2008
CopyrightCopyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Shares of Freeport-McMoRan Copper & Gold Inc. rose nearly 4 percent Friday after a global iron ore producer said it has not been in negotiations to acquire the Arizona copper mining company.
Companhia Vale do Rio Doce SA spokesman Fernando Thompson said they have been evaluating the possible acquisition of Paranapanema S.A. subsidiaries, Caraiba Metais S.A. and Cibrafertil.
"Rumors that Vale would have made an offer for Freeport are totally baseless," Thompson said in a statement e-mailed to The Associated Press.
Freeport-McMoRan spokesman Bill Collier ...