CGG Up +10% On Acquisition Rumor

Shares of CGG

are up more than 10 percent following a rumor that Baker Hughes

is in talked 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. The ADR was last trading at at $14.64, up 10.2 percent since Thursday's close.