OSLO, Sept 2 (Reuters) - Shareholders in Norwegian seismic surveyor
TGS-Nopec supported on Tuesday management's proposal to scupper a
merger with rival Wavefield and seek compensation for the failure, TGS
said.
An extraordinary general meeting of TGS shareholders voted by a wide
majority to terminate the mid-2007 merger plan, which had initially been a deal
worth around $1.2 billion.
"This means that TGS will terminate the merger plan with Wavefield and
concentrate on the claim for compensation in Arbitration," TGS-Nopec Geophysical
Company ASA said in a statement.
TGS has said it would seek compensation of up to $700 million.
(Reporting by John Acher) Keywords: TGS WAVEFIELD/
tf.TFN-Europe_newsdesk@thomson.com
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