GeoEye Seeks $792M Buy Of Satellite Image Co. DigitalGlobe

Law360, New York (May 4, 2012, 12:09 PM EDT) -- GeoEye Inc. has made a $792 million cash-and-stock offer for satellite imagery company DigitalGlobe Inc., GeoEye said Friday, hoping to unite with its rival to better shoulder defense contract cuts from the U.S. government — a major client of both companies.

If the two joined up, they would offer the world's largest fleet of commercial imagery satellites and would be better positioned, in “this fiscally constrained environment," to invest in and develop new technology, GeoEye said.

In the proposed deal, DigitalGlobe's investors would receive $17 per share, a...
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