Spectrum makes offer for MultiClient Geophysical

Norwegian geoscience firm Spectrum has made an offer to acquire fellow Norwegian outfit MultiClient Geophysical for US$13.94 million (NOK 116 million).

The offer trumps an earlier offer made by UK-based geoscience firm Geoex by about 19% and is also a 16% premium on MultiClient Geophysical's closing price on the Oslo Axess, immediately before Geoex's offer.

It's also a 67% and 69% premium respectively on the volume weighted average share prices in the three and six month periods ending before announcement of the Geoex Offer on 22 December 2016.

Spectrum is in the process of finalizing an offer document, setting out terms. The offer period is expected to start early February and last about two weeks, although it could be extended. 

Current News

AquaTerra to Provide Asset Integrity Services for BP and Ithaca Energy in North Sea

AquaTerra to Provide Asset Int

MENCK to Supply Pile-Driving Tool for UK Offshore Wind Farm Installation

MENCK to Supply Pile-Driving T

Chevron and ExxonMobil Portfolios Overlap Put Mega-Merger Back in Spotlight

Chevron and ExxonMobil Portfol

Carnarvon Wraps Major Seismic Project off Australia Ahead of 2026 Drilling Ops

Carnarvon Wraps Major Seismic

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine