Deals
SEC Alleges Insider Trading in Global Industries, Technip Deal
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U.S. regulators filed a lawsuit alleging insider trading in Global Industries Ltd. days before the U.S. company agreed to a $937 million takeover by Technip SA, Europe’s second-biggest oil services company.
The complaint by the U.S. Securities and Exchange Commission alleges that on Sept. 8 and 9 “unknown purchasers” bought 685,840 shares of Global Industries common stock through an account in the name of Raiffeisen Bank International AG Vienna, Austria, at $5.14 to $5.39 a share.