logo
Share SHARE
FONT-SIZE Plus   Neg

DigitalGlobe Confirms $17/shr Buyout Offer From GeoEye - Quick Facts

DigitalGlobe Inc. (DGI) confirmed that it has received an unsolicited proposal from GeoEye Inc. (GEOY) to acquire DigitalGlobe for $17.00 per share in a combination of cash and stock.

DigitalGlobe said its board of Directors will carefully review and consider the proposal and pursue the course of action that is in the best interests of DigitalGlobe and its stockholders. The stockholders are advised to take no action at this time pending the review of the proposal by the Company's Board of Directors, DigitalGlobe said.

Earlier today, GeoEye announced that it is proposing to acquire DigitalGlobe.

GeoEye stated that the proposed transaction would give DigitalGlobe shareholders $17.00 per share in total consideration, payable $8.50 per share in cash and $8.50 in GeoEye stock, or 0.3537 shares of GeoEye stock for each share of DigitalGlobe stock.

This price represents a 26% premium to DigitalGlobe's closing share price on May 3, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
AIG reported a plunge in second-quarter profit, hurt by a decline at its insurance business, debt-related losses and lower gains from the sale of investments. However, its earnings topped Street estimates, partly on contribution from aircraft leasing giant AerCap. AIG also announced a boost in dividend and said it would buyback an additional $5 billion stock. Automakers on Monday reported strong U.S. vehicle sales for the month of July, driven by continued demand for trucks and sport-utility vehicles amid an improving economy, lower gas prices and easy availability of credit. Detroit's Big Three - General Motors Co., Ford Motor Co. and FCA US, LLC - all reported vehicle sales above analyst expectations. British lender Lloyds Banking Group Plc. Friday reported higher profit in its first half, benefited by increased net interest income and margin as well as lower impairment. Looking ahead, the company lifted its net interest margin forecast.
comments powered by Disqus
Follow RTT