On The Record with Andrea Hotter

In 2006, a mining “minnow” made a bet so audacious it changed the industry: Freeport-McMoRan moved to swallow Phelps Dodge, a company nearly twice its size.

Richard Adkerson, Freeport Chairman, takes us inside the deal that followed: the odd negotiating location, the culture clash, the surprises, and the commodities crash that put the newly combined company to the test.

How do you pull off a deal that big, and survive it? Adkerson tells the story.