About | Contact | SUBMIT PRESS | Advertise | FAQ
Newsletters | Twitter |
HomeNewsArticlesExpertsDataJobsEDULBSEVENTSDIRBLOGSocialGeoJobs
 
advertisement

Top Geo News
Put Your News here! 
 


Russia and NATO Canada take to Twitter to redraw Russia / Ukraine Boundaries on a Map

Got news? TELL US...
submit press to GISuser

Social Connect




GISuser Sponsor


Recent Site Additions
GISuser Sponsor

GISuser Videos


See also SpatialVideos Youtube

GISuser Sponsor


Home arrow News arrow Webinars arrow GeoEye Disappointed by DigitalGlobe, Inc.'s Rejection Of the Proposed Acquisition     

HOT JOB
post a GIS job * THE NEW GEOJOBS.BIZ!!! *  NEW CAREERS at Esri
See THOUSANDS of jobs on GeoJobs.Biz
Submit News/tips to press @gisuser.com
GeoEye Disappointed by DigitalGlobe, Inc.'s Rejection Of the Proposed Acquisition PDF Print E-mail
Written by GeoEye, Inc.   
07 May 2012
GeoEye's proposal provides excellent value to U.S. Government, shareholders and domestic and international customers.


HERNDON,Va., May 7, 2012 -- GeoEye (NASDAQ: GEOY) released the following statement in response to the announcement by DigitalGlobe, Inc. (NYSE: DGI) that its Board of Directors has rejected GeoEye's acquisition proposal. On May 4, 2012, GeoEye announced a proposal to acquire DigitalGlobe for $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, representing a premium of 26% to DigitalGlobe's closing price as of May 3, 2012.

"We are disappointed that DigitalGlobe's Board of Directors has rejected our highly attractive proposed acquisition," said Matt O'Connell, CEO of GeoEye. O'Connell continued, "We believe, and DigitalGlobe appears to agree, that combining these two companies makes clear strategic sense. A combined company would generate substantial synergies while better satisfying the needs of all customers, domestic and international. The combined company would be able to deliver significantly greater certainty in the continuity and quality of its future satellite constellation. We view this proposal as being proactive to continue to deliver the high level of service to our government and commercial clients in the most cost effective manner."

GeoEye will consider its options in light of DigitalGlobe's rejection. We have engaged Goldman, Sachs & Company, Convergence Advisors LLC and Latham & Watkins LLP to advise us in this transaction.

About GeoEye

GeoEye is a leading source of geospatial information and insight for decision makers and analysts, who need a clear understanding of our changing world to protect lives, manage risk and optimize resources. Each day, organizations in defense and intelligence, public safety, critical infrastructure, energy and online media rely on GeoEye's imagery, tools and expertise to support important missions around the globe. Widely recognized as a pioneer in high-resolution satellite imagery, GeoEye has evolved into a complete provider of geospatial intelligence solutions. GeoEye's ability to collect, process and analyze massive amounts of geospatial data allows our customers to quickly see precise changes on the ground and anticipate where events may occur in the future. GeoEye is a public company listed on NASDAQ as GEOY and is headquartered in Herndon, Virginia with more than 700 employees worldwide. Learn more at www.geoeye.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Without limitation, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "will" and similar expressions are intended to identify forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future, including statements relating to growth, expected levels of expenditures and statements expressing general optimism about future operating results, are forward-looking statements. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements and those presented elsewhere by our management from time to time are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, but are not limited to, those described in "Risk Factors" included in our Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2011, which we filed with the Securities and Exchange Commission ("SEC") on March 13, 2012. Copies of all SEC filings may be obtained from the SEC's EDGAR Web site, http://www.sec.gov/ or by contacting: William L. Warren, Executive Vice President, General Counsel and Secretary, at 703-480-5672.

Nothing herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, nor there may be any sale of securities in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the applicable securities laws of any such state or jurisdiction.

SOURCE GeoEye, Inc.

See Also:

DigitalGlobe Rejects Unsolicited Acquisition Proposal by GeoEye

GeoEye Proposes Acquisition Of DigitalGlobe

Last Updated ( 07 May 2012 )
 
< Prev   Next >

 Did you enjoy this article/news and want to stay informed? 
Click to subscribe to the 2X A Week GISuser Today E-Newsletter


Submit Your GIS/Geo News/PR


Geo EDU Tip
To GISP or Not? What Does It Mean To You? 
HOT Devices
Video - Trimble Positions and the Geo Explorer 6000 XH
Social Media Tips
10 Map Services Your Business MUST Be Listed in
 
Featured Events
  • FOSS4G 2014 - Put on by OSGeo, FOSS4G is the international gathering of open source and geospatial tribes. Join us in Portland, Oregon, USA, Sept 8th-12th
  • Trimble Dimmensions - Trimble Dimensions User Conference is the premier event of the year for professionals wishing to stay on top of the most current information on a wide range of technologies. This educational, networking and hands-on training conference provides insight into how you can achieve greater success in your workplace. Nov 3-5, Las Vegas, NV.
  • InterGeo 2014 - INTERGEO is the world's leading conference trade fair for geodesy, geoinformation and land management. With over half a million event website users and over 16,000 visitors from 92 countries at INTERGEO itself, it is one of the key platforms for industry dialogue around the world - Oct 7-9, 2014, Berlin

 List Your Event Here 

THE GISuser Newsletter

See Recent edition
newsletter

subscribe GISuser

We won't share your address!
Sponsor


Popular Stuff!


GISuser Site Sponsor


Partner Sites

lidar news
lbszone.com

amerisurv

symbianone

geojobs Geo jobs

geoLearn

A Spatial Media LLC property



Spatial Media, LLC ©2003 - 2013 All rights reserved / Privacy Statement