Market Overview

CGG Up 10% On Acquisition Rumor

Shares of CGG (NYSE: CGG) are up more than 10 percent following a rumor that Baker Hughes is in talks to acquire the company. Bloomberg pulled the rumor from a trader in England.

CGG is a French firm that produces equipment for the oil and gas industry. The listing of CGG in Europe has a short float over eight percent.

CGG was last trading at $14.64, up 10.2 percent since Thursday's close.

Posted-In: Baker Hughes BloombergNews Rumors M&A

 

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