News / 25.01.2017

Haavind is advising Spectrum ASA in connection with a competing takeover bid to acquire MultiClient Geophysical ASA

Author(s) Cornelius Sogn Ness & Bjørn Olav Torpp

Haavind is acting as legal advisor to the board and management of Spectrum in connection with the competing takeover bid.

On 19 January 2017, Geoex Ltd. (Geoex) launched a takeover bid to acquire all of the shares in MultiClient Geophysical ASA (MCG), a seismic company listed on Oslo Axess. On, 24 January 2017, Spectrum ASA (Spectrum), a seismic company listed on Oslo Børs, announced a competing takeover bid at a price of NOK 1.25 per shares.

The offer from Spectrum represents a premium compared to the Geoex offer of approx. 19% compared with the first consideration to be paid from Geoex and a premium of approx. 4%  compared to the total consideration offered by Geoex.

Haavind is acting as legal advisor to the board and management of Spectrum in connection with the competing takeover bid.