TGS-Spectrum Merger Gets Boards of Directors Approvals

TGS-NOPEC Geophysical (TGS) and Spectrum’s boards of directors have unanimously approved and decided upon a final merger agreement and merger plan between the companies.

The companies announced the statutory merger at the beginning of May.

The merger plan is now to be submitted to and registered by the Norwegian Register of Business Enterprises.

Completion of the merger is subject to approval by extraordinary general meetings in TGS and Spectrum, expected to be held on or about June 21, 2019.

As previously reported, Spectrum shareholders representing more than 34% have given their support to the transaction and undertaken to vote their shares in favor thereof.