Compagnie Generale de Geophysique - proposed acquisition of Veritas DGC Inc
Type of assessment
Informal Review
Reference
26267
Acquirer(s)
Compagnie Generale de Geophysique
Target(s)
Veritas DGC Inc
Industry
Geophysical services
Summary
Compagnie Generale de Geophysique - proposed acquisition of Veritas DGC Inc
Outcome of assessment
Not opposed
Total review days *
23
Commenced public review
22nd November 2006
Date completed
22nd December 2006
Market definition
The ACCC did not need to conclusively define the relevant markets for this matter. It therefore adopted narrowly defined separate national markets for the supply of:
- marine seismic data acquisition services; and
- seismic data processing services.
Adopting markets with a wider product dimension would not have changed the ACCC's conclusion on whether the proposed acquisition would raise competition concerns.
Competition analysis
The ACCC considered that the proposed acquisition was unlikely to raise competition concerns given the number of existing competitors in the relevant markets; evidence of new entrants in recent years; and the use of competitive tender processes by customers (typically gas and oil companies).
Review timeline
Date
Event
22nd November 2006
ACCC commenced review under the Merger Review Process Guidelines. Market inquiries commenced
22nd December 2006
ACCC announced it would not oppose the proposed acquisition.
* Total Review days = Total business days less public holidays and time during which the review was suspended.
