Dawson, TGC Industries Announce Early Termination Of Waiting Period For Merger

(RTTNews) - Dawson Geophysical Co. (DWSN) and TGC Industries, Inc.(TGCI, TGCI.OB, TGE) Monday reported the early expiry of the waiting period for the proposed merger between the two companies, which was announced in September. The termination has been granted under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

"We are pleased to have completed this important milestone in the approval process for the proposed business combination between Dawson and TGC. We expect to complete the SEC review process and to commence mailing of a joint proxy statement to our respective shareholders," said Stephen Jumper, CEO of Dawson.

Under the merger deal, Dawson and TGC shareholders would hold nearly 66 percent and 34 percent of the combined company, respectively. The transaction is expected to be complete during the first calendar quarter of 2015.