Freeport-McMoRan Copper & Gold Inc. won permission from the European Commission on Tuesday to buy much larger Phelps Dodge Corp. for $25.9 billion in cash and stock.
The deal, which would create the world's largest publicly traded copper company, won approval from U.S. antitrust authorities in December.
Freeport-McMoRan will pay $126.46 per Phelps Dodge share, a premium of 33 percent to Phelps Dodge's November 17 closing price.
Read more at Reuters South Africa
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