a fight for Phelps Dodge

Some interesting stuff going on with PD. A while ago, the company agreed to be bought by FCX for $88 plus a fraction of a share of FCX (adding up to about $126). But SAC Capital has said that they're going to oppose the deal (they own 5% of PD). Atticus owns 10% of PD, and has not announced their opinion. These are big Wall St. players that are trying to alter the future of a $25 billion dollar company. Should be entertaining and educational, especially if someone starts talking LBO.

p.s. check my comment on Joel's WLT post if WLT at $25 would surprise you