TGS acquires Spectrum in major merger deal
TGS will acquire Spectrum in a deal which has been announced as a merger set to create a “leading provider of 2D and 3D seismic data”.
This follows an agreement of shareholders of both companies, triggering a transaction which is expected to be completed as a statutory merger pursuant to Norwegian corporate law between TGS and Spectrum.
Under the terms of the agreement, Spectrum shareholders will received 0.28 shares for one Spectrum share in addition to a cash consideration of...