TGS Makes Surprise $600 Mln Offer for Part of Rival PGS

Seismic surveyor TGS, a supplier of geological data to the global oil industry, on Thursday said it had made an unsolicited cash offer of $600 million for a key part of rival PGS.

If successful, the offer to buy PGS’s so-called multi-client library would significantly broaden TGS’s worldwide geophysical data offering, the company said.

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