Compagnie Générale de Géophysique (CGG), Massy, France, (NYSE: GGY) plans to acquire Veritas DGC Inc., Houston, (NYSE: VTS) for US$3.1 billion in cash and stock. The deal includes US$1.5 billion in cash and the option for Veritas shareholders to receive either 47 million CGG shares, with 2.2501 CGG shares per Veritas share for 51% of Veritas shares or US$75 in cash for 49% of Veritas shares. Veritas provides integrated geophysical information and services to the petroleum industry worldwide. The merged company will have a seismic fleet with 20 vessels, including 14 high capacity 3-D vessels, and land crews operating with equivalent capacity in both the Western and Eastern hemispheres.
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