The least suprising news of this week.
http://timesofindia.indiatimes.com/business/international-business/Sinopec-press-conference-later-today-regarding-CGG-acquisition/articleshow/60220481.cms
17 replies (most recent on top)
Why CGG shares are still spiking? There must be something going on. Does anyone has an idea?
-12% so far today (NYSE):
https://finance.yahoo.com/quote/CGG/
Sinopec not interested?
The US blocked China from taking over Unocal. Canada said that the Nexen deal would be the last of its kind with China. Would France allow the sale of CGG's high level tech to the Chinese and would the US continue to allow the use of CGG's seismic tech so close to our shores--tech that is for "peaceful purposes?" I do not know the answer to these questions.
Share price has rebounded.
Sinopec Half-year Profit Jumps 41%, lifts Dividend 27%
https://www.pressreader.com/nigeria/thisday/20170829/281663960142858
End of Sinopec story?
https://www.easybourse.com/energie/article/32675/cgg-souffle-retombe-portzamparc-ne-croit-pas-rumeur-sinopec.html
You are right, the stocks went down just a little bit, even today. It is only down by 14.12% in Paris and so far by 12.85% in NY. We know for sure the speculation is dead only when the stocks reach zero!!!
That's not correct (even worse)
-10.39 % so far today in Paris!!!
https://finance.yahoo.com/quote/cgg.pa?ltr=1
-8.82 % today,
Sinopec not interested?
Only a little down, the share price would be back to what it was before if the speculation had died. It's still up.
The stock was down today at both Paris and NASDAQ exchanges. At Paris it was down 0.47Eur (8.44%) and at NASDAQ it was down $0.64 (9.6%).
By now investors realized that the buyout speculation seems to be false and they have already started to dump their stocks. Besides, no one interested in buying a nonprofitable company with over $3 billion debt.
So no news yet?
The Chinese are coming.
The Chinese aren't that stupid.
Maybe there is no solid basis for the takeover speculation or it is already dead before it was born. The stock rally started to winding down a bit instead of getting more momentum.
Another interesting article:
http://www.dailymail.co.uk/wires/reuters/article-4822312/Oil-services-group-CGGs-shares-surge-fourth-day-bid-talk-lingers.html
the link redirects to a different page