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TGS to merge with PGS, creating $2.6B European seismic data firm

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TGS to merge with PGS, creating $2.6B European seismic data firm
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Maksim Labkouski

TGS (OTCPK:TGSNF) (OTCPK:TGSGY) agreed to accumulate seismic rival PGS (OTCPK:PGEJF) in an all-stock deal valued at NOK9.3B (~$863M), the 2 Norwegian corporations stated Monday, looking for to reap the benefits of a rebounding marketplace for geophysical information for the offshore power business.

TGS (OTCPK:TGSNFOTCPK:TGSGYOTCPK:PGEJF