The market capitalisation of PGS is a mere fraction of what it was at the start of the year. Even prior to the failure of the merger, PGS' share price had fallen dramatically.
This time last year, PGS stock on the New York Stock Exchange was trading over US$11. By November 2001, the price had more than halved to US$5 but then rallied to US$8 by the start of this year.
From then on in the PGS stock has steadily slid all the way down to US$2 by the 30th of July. On the morning of the 31st, the day after the announcement that the merger had fallen through, the stock opened at 75c.
PGS traded last night at US41c.
