OCR Text |
Show of common stock for all the assets of the McMoRan companies. com-panies. The exchange rate vould be 1.4G09 shares of Horn for each share of McMoRan Exploration and 197.5 shares of Horn Silver for each share of McMoRan Oil. HORN SILVER WANTS TO ABSORB FIRMS Merger plans were announced last Thursday by Horn Silver Mines Co. of Salt Lake and McMoRan Exploration Co. and McRoRan Oil, Inc., of New Orleans. Horn Silver Mines would bs the surviving company. Under the tentative agreement, agree-ment, Horn Silver Mines would issue about 1.3 million shares |