Freeport says reviewing options for oil and gas business

Freeport-McMoRan said it is reviewing strategic options for its oil and gas business, including a spinoff or a joint venture, a week after its biggest shareholder Carl Icahn said the energy and mining company was an example of a "golden" buying opportunity. Activist investor Icahn, who owned 8.8% of Freeport as of September 22, took aim at the company's spending and capital structure as well as its executive compensation when he revealed his stake in the company in August.