Seismic deal

By agreeing a 35% premium to acquire competitor Veritas, Geophysique may be trying to preempt other bidders for its US target. But although it is expensive, the $3.1bn acquisition is a quantum leap for the French company that makes strategic sense. It will make it joint global leader in the booming «seismic» sector, which provides the oil-and-gas industry with detailed maps of the world’s natural resources below ground or under the sea. After the merger, Geophysique-Veritas will be roughly the s...