Compagnie Generale de Geophysique completes merger with Veritas

By Lisa Kerner

Charlotte, N.C., Jan. 12 - Compagnie Generale de Geophysique said it completed the $3.1 billion part-cash, part-stock merger between its subsidiary and Veritas DGC Inc. following elections that ended Thursday, according to a company news release.

Stockholders who elected to take cash in the deal will receive a mix of cash and stock consideration. Those who elected stock, or who failed to make a valid election, will receive stock consideration.

Compagnie Generale stock (NYSE: GGY) closed at $40.99 on Jan. 11, while Veritas (NYSE: VTS) ended the day at $83.33.

Final results and the actual merger consideration are dependent on a number of factors and will be announced at a later date, Compagnie Generale de Geophysique said.

Compagnie Generale de Geophysique is a Massy, France-based provider of seismic data acquisition, processing and reservoir services to clients in the oil and gas exploration and production business.

Veritas, based in Houston, provides integrated geophysical information and services to the petroleum industry.

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