Norwegian geoscience firm Spectrum has made an offer to acquire fellow Norwegian outfit MultiClient Geophysical for US$13.94 million (NOK 116 million).
The offer trumps an earlier offer made by UK-based geoscience firm Geoex by about 19% and is also a 16% premium on MultiClient Geophysical's closing price on the Oslo Axess, immediately before Geoex's offer.
It's also a 67% and 69% premium respectively on the volume weighted average share prices in the three and six month periods ending before announcement of the Geoex Offer on 22 December 2016.
Spectrum is in the process of finalizing an offer document, setting out terms. The offer period is expected to start early February and last about two weeks, although it could be extended.
