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Stock Market & Financial Investment News

News Breaks
June 13, 2014
07:23 EDTSLB, CGGCGG preferred in race with Schlumberger for 3D seismic contract, Upstream says
CGG (CGG) and WesternGeco, a unit of Schlumberger (SLB), are the only companies bidding for a $100M-plus 3D broadband seismic contract from India’s Oil & Natural Gas Corporation, according to oil and gas industry publication Upstream, which added that CGG is preferred for the award as it was low bidder in ONGC’s previous tender. Shares of CGG are up nearly 8% in pre-market trading following the report. Reference Link
News For CGG;SLB From The Last 14 Days
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February 5, 2016
13:00 EDTSLBSchlumberger, Cameron merger receives unconditional clearance from EU
Schlumberger Limited (SLB) and Cameron (CAM) jointly announced that the European Commission has cleared their proposed merger without any conditions following a Phase 1 review. As previously announced, the U.S. Department of Justice cleared the proposed merger in November 2015 without any conditions; Cameron stockholders voted on December 17 to adopt the merger agreement between Schlumberger and Cameron; and antitrust clearances have been obtained in Canada, Brazil, Russia, and Mexico. Under the terms of the merger agreement, Schlumberger and Cameron only await regulatory approval from the Ministry of Commerce of the People's Republic of China. The Chinese authorities started their 30-day Phase 1 review process on February 4, 2016. The closing of the proposed merger remains subject to the satisfaction or waiver of the remaining customary closing conditions contained in the merger agreement. Schlumberger and Cameron expect to close the merger in the first quarter of 2016. Until that time, the companies will continue to operate as separate and independent entities and continue to serve their respective customers.
06:45 EDTSLBSchlumberger's acquisition of Cameron cleared by EU, Reuters reports
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February 3, 2016
05:18 EDTCGGCGG SA awarded survey extension offshore Colombia
CGG announced that it has been awarded an extension to a major 3D seismic survey it successfully completed on the Caribbean coast offshore Colombia in late 2015. The new survey follows on from the original over 16,000-km2 survey CGG conducted over portions of the Col-1 and Col-2 blocks, which was the largest survey ever recorded offshore Colombia. This major extension is expected to start in February 2016. The additional data will also be processed in CGG's Houston subsurface imaging center.
January 28, 2016
07:39 EDTSLBCameron expects transaction with Schlumberger to close in 1Q16

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