logo
Share SHARE
FONT-SIZE Plus   Neg

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

DigitalGlobe Inc. (DGI: Quote) confirmed that it has received an unsolicited proposal from GeoEye Inc. (GEOY: Quote) 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
Gas explosion in Fresno in California injured 11 people on Friday afternoon. Pacific Gas and Electric Co. (PG&E) said workers who are not affiliated with the company have struck a 12-inch natural gas transmission pipeline and the gas leaked was ignited due to the dig-in. Verizon Communications' FiOS TV service has modified its programming bundles and will now offer new packages so that users can subscribe only for channels they prefer to watch. Instagram, the photo sharing app owned by Facebook, has updated its community guidelines to disallow nudity and harassment in uploaded photos and pictures, as well as cyber bullying.
comments powered by Disqus
Follow RTT