Schlumberger to acquire stake in Convergent Group

Convergent Group management and employees will own approximately 26 percent of the remaining shares, and Cinergy Ventures LLC, a unit of Cinergy Corp., the firm’s largest client, will retain equity in the firm, holding the remaining ownership interest. The agreement and the tender offer were negotiated and approved by a committee of independent directors of Convergent Group, and the agreement provides that Convergent Group may consider superior proposals to the tender offer and the merger.

By MATTHEW C. QUINN

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