Energy and mining company Freeport-McMoRan Inc. (FCX) said Oct. 6 it is reviewing strategic options for its oil and gas business, including a spin-off, joint venture or a public offering.
Activist investor Carl Icahn owned 8.8% of the company as of Sept. 22.
Freeport also said it has reduced the size of its board to nine from 16.
Five members who left have been named to the board of the oil and gas segment, in preparation of considering a separation of the business, the company said.
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