I didn't like the news yesterday that EQN's major shareholder was selling their stake of $650 million in EQN and I am now out of CGG.
The problem with a friendly/ board approved takeover like this is EQN will probaly get over 90% of CGG and you will have to accept the offer because they can then forcefully aquire your shares. If the EQN share price falls, and it was down 9.4% in Canada last night, they may have to improve the offer ratio to compensate, but I see that as the only chance for a better result for CGG holders,
good luck
CGG Price at posting:
50.5¢ Sentiment: None Disclosure: Not Held
