French-based geophysical company CGGVeritas (NYSE: CGV) has acquired 12.67% interest in seismic-marine company Eastern Echo Holdings Plc, Cypress, (Oslo: ECHO) for some 13.95 Norwegian crowns, for a total price of approximately US$79 million. This follows a bid last week by Schlumberger, Houston, (NYSE: SLB) to acquire all shares of Eastern Echo for 12 Norwegian crowns per share, or approximately US$679 million. Eastern Echo rejected the bid.
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