Freeport CEO may be ready to sell, but does anyone want to buy?
Freeport-McMoRan’s annual LME Week party is usually an opportunity for CEO Richard Adkerson to hobnob with the traders and consumers who buy copper from his mining company. At this year’s event, he was surrounded by investment bankers.
With its biggest stock overhang – a deal around its flagship asset in Indonesia – close to being solved, the miner has said all options are open, even potentially a sale of the entire company. The comments will have everyone running the numbers. The question is, who would want to buy it?