Dawson Geophysical Company (NASDAQ:DWSN) today announced the acquisition of rival TGC Industries (NASDAQ:TGE) in a stock-for-stock deal valued at approximately $157 million based on each company’s Friday closing price.The deal values TGC at about $8.00 per share, which represents a 17% premium over the stock's closing price on Friday of $6.83 per share. TGC shareholders will receive 0.188 shares of Dawson stock for every one whole share of TGC stock they own.Upon completion of the deal, current Dawson shareholders will own approximately 68% of the combined company, while current TGC shareholders will own approximately 32%.Both company's boards have approved the acquisition, and the deal is expected to close by the end of Q2 or the beginning of Q3.