CGG rebuffs Technip’s merger advances


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Submitted by Paddy Harris on 20th November 2014

20th November 2014

Technip approached CGG on 10 November regarding a share takeover, but CGG has today declined to accept Technip’s offer

Technip intended to join CGG’s impressive geophysical portfolio to its own energy EPC business to create a “first tier oil and gas services provider”.

Technip offered 8.30 euros per CGG share but CGG have commented that the conditions to pursue the deal have yet to be met.