DigitalGlobe rejects GeoEye offer
Posted: Tue, May 8, 2012, 6:59 AM ET (1059 GMT)
Commercial remote sensing company DigitalGlobe has rejected a offer by rival GeoEye to acquire the company, saying it will wait until the end of the federal budget cycle to make a decision on whether to make its own bid to acquire GeoEye. DigitalGlobe said in a statement Sunday that the $17-per-share offer by GeoEye "substantially undervalues" the company. DigitalGlobe confirmed that the two companies had been in discussions about a potential acquisition for the last three months, with DigitalGlobe making its own offers to acquire GeoEye that were rejected. Those discussions were spurred by the 2013 federal budget proposal, which seeks to cut funding on a major contract, EnhancedView, that both companies have by more than half. DigitalGlobe said it would wait the outcome of budget deliberations in Congress before making any decisions on a deal with GeoEye.
Commercial remote sensing company DigitalGlobe has rejected a offer by rival GeoEye to acquire the company, saying it will wait until the end of the federal budget cycle to make a decision on whether to make its own bid to acquire GeoEye. DigitalGlobe said in a statement Sunday that the $17-per-share offer by GeoEye "substantially undervalues" the company. DigitalGlobe confirmed that the two companies had been in discussions about a potential acquisition for the last three months, with DigitalGlobe making its own offers to acquire GeoEye that were rejected. Those discussions were spurred by the 2013 federal budget proposal, which seeks to cut funding on a major contract, EnhancedView, that both companies have by more than half. DigitalGlobe said it would wait the outcome of budget deliberations in Congress before making any decisions on a deal with GeoEye.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Thursday, April 2
Europe to negotiate with NASA on lunar missions: ESA
AFP — 5:42 am ET (0942 GMT) Starlink gains just 3,500 users after 8 months in Bangladesh
The Daily Star (Bangladesh) — 5:41 am ET (0941 GMT) U.S. Space Force chief: Fiscal 2027 budget will reflect ‘aspirations’ for rapidly growing the service
Aerospace America — 5:38 am ET (0938 GMT) On Victory Lap, USSF Chief Charts Service’s Course
Aviation Week — 5:38 am ET (0938 GMT) One Year In, Work on Space Force Partners Strategy Just Beginning
National Defense Magazine — 5:37 am ET (0937 GMT) |
