CGG are vulnerable to take over.
Schlumberger want out of seismic - No
Shearwater and are too small and have many ex CGG employees - No
PGS are struggling and are the last large player - possible tie up to create one mega player and control the market, with SLB withdrawal it is the best opportunity anyone has had to be dominant in the seismic market.
Polarcus - have boats and little processing, CGG have processing (actually ex Veritas processing which was good, CGG's was primitive and ditched after Geovation 1.0) - possible and would return CGG back to market dominance.
TGS - business model does not require CGG
Then there are a number of other small players Ion, spectrum, that Aussie company,..., where a merger would mean they loose their identity within the larger CGG and gain debt.
Don't get it really. Any solutions anyone?