Bid & Ask: HSBC, Freeport-McMoRan, KingSett Capital, ADM
Noteworthy expenditures of the week
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1. In a move to revive profit and boost capital, HSBC Holdings is selling its stake in China’s Ping An Insurance Group to Thai billionaire Dhanin Chearavanont for $9.4 billion.
2. Freeport-McMoRan Copper & Gold will pay $9 billion for Plains Exploration & Production and McMoRan Exploration, gaining oil fields in the Gulf of Mexico and other energy assets.