By OGJ editors
HOUSTON, Sept. 5 -- Seismic services companies Compagnie Générale de Géophysique (CGG) and Veritas DGC Inc. entered into a definitive merger agreement in which CGG plans to acquire Veritas in a cash-stock transaction worth $3.1 billion.
The boards of both companies unanimously approved the transaction, which remains subject to shareholder and regulatory approvals. The combined group will operate as CGG-Veritas.
The combined seismic services will operate 20 seismic vessels, including 14 high-capacity 3D vessels.