norwegian seismic data company tgs asa said wednesday it has made an offer to buy peer magseis fairfield asa in a deal that values the company at 233 billion kroner 2369 million the deal will see tgs put forward a voluntary exchange offer to acquire all shares of magseis for 00426 ordinary shares of tgs and nok230 in cash per magseis share based on tuesdays closing price of tgs the value of the consideration is equal to nok86048 per magseis share a 537 premium to the closing price of the magseis shares of nok 560 on tuesday it added the board of directors of magseis has unanimously resolved to recommend the offer and shareholders representing 334 of the outstanding share capital of magseis have undertaken to accept the offer with a strengthening focus on costs and cycle times in the exploration and production of oil and gas an increasing amount of demand of geophysical data is driven by infrastructureled exploration and production monitoring said kristian johansen chief executive of tgs combining magseiss leading position in the ocean bottom node market with tgss multiclient and data processing capabilities creates a unique offering of superior quality products and services across the value chain