CGG Board Found None of Technip Proposals Created Value for Co.
2014-12-14 20:03:10.398 GMT
By John Simpson
(Bloomberg) -- CGG says it was open to dialogue with
Technip after unsolicited approach on Nov. 10, but determined
that none of the proposed options “were creating value for the
company and its shareholders.”
* CGG says it remains confident in its future as an
independent co., noting that 3Q results show “important
progresses achieved and milestones met” and balance sheet
strengthened
* Says it is in position to “weather current difficult market
conditions while fully benefiting from future geoscience
market rebound”
* NOTE: Earlier, Technip Doesn’t Intend to File a Tender Offer
for CGG Link
Link to Statement:Link
Link to Company News:CGG FP <Equity> CN <GO>
Link to Company News:TEC FP <Equity> CN <GO>
For Related News and Information:
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First Word newswire: NH BFW<GO>
To contact the editor responsible for this story:
John Simpson at +1-416-203-5726 or
jsimpson12@bloomberg.net
2014-12-14 20:03:10.398 GMT
By John Simpson
(Bloomberg) -- CGG says it was open to dialogue with
Technip after unsolicited approach on Nov. 10, but determined
that none of the proposed options “were creating value for the
company and its shareholders.”
* CGG says it remains confident in its future as an
independent co., noting that 3Q results show “important
progresses achieved and milestones met” and balance sheet
strengthened
* Says it is in position to “weather current difficult market
conditions while fully benefiting from future geoscience
market rebound”
* NOTE: Earlier, Technip Doesn’t Intend to File a Tender Offer
for CGG Link
Link to Statement:Link
Link to Company News:CGG FP <Equity> CN <GO>
Link to Company News:TEC FP <Equity> CN <GO>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the editor responsible for this story:
John Simpson at +1-416-203-5726 or
jsimpson12@bloomberg.net