NEW YORK, May 20, 2013 /PRNewswire/ -- Paulson
& Co. Inc., whose funds own as of the record date 12,800,000
shares or approximately 9.9% of the outstanding shares of Plains
Exploration & Production Co. (NYSE: PXP), today issued the
following statement regarding the amended merger agreement between
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) and Plains:
"Paulson & Co. appreciates the flexibility of both Plains
and Freeport in adding incremental
cash to the transaction and will vote all the shares owned by funds
under its management in favor of the merger. We further
support Freeport's strategy in
acquiring both Plains and McMoRan Exploration as it adds another
avenue for growth, diversifies its cash flows, and increases the
proportion of earnings from the United
States."
Paulson & Co. Inc., founded in 1994, is an investment
management firm specializing in event-driven strategies.
Paulson & Co. Inc. has offices in New York, London and Hong
Kong.
For more information, contact:
Dawn Dover/Andrea
Calise
Kekst and Company
(212) 521-4800
SOURCE Paulson & Co. Inc.