I sold out of CGG quite a while back now, but it was obvious even then that the huge share holding that Innes held along with other board members and "associates" that they would sell out to the first half reasonable offer that was submitted. How else could she realise the cash from her holding, bear in mind that it is not a lot of fun being a business women in Saudi Arabia so we can't be too critical of her motives. Personally i think the deal with Equinox is way below what CGG is worth. Why after raising all the cash to start up production did they need to sell out?
CGG Price at posting:
52.0¢ Sentiment: None Disclosure: Not Held