Technip no longer intends to file a tender offer, says CGG

Offshore staff

PARISCGG says Technip has announced that Technip no longer intends to file a tender offer for CGG.

Since the beginning of this unsolicited approach by Technip on Nov, 10, CGG reports that it remained open to dialogue and studied all of Technip’s proposals, taking into account the interests of its shareholders, clients, and employees. CGG’s board considered that none of the proposed options were creating value for the company and its stakeholders.

CGG says it remains confident in the ongoing execution and success of its strategy as an independent company, and that CGG is meeting its transformation-plan milestones.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...