GeoEye Investor Challenges $900M DigitalGlobe Buyout

Law360, New York (July 27, 2012, 3:55 PM EDT) -- Just days after Colorado geospatial imaging firm DigitalGlobe Inc. plunked down $900 million for rival GeoEye Inc., a shareholder of the target company filed suit on Thursday, accusing the corporations and GeoEye’s board of lowballing shareholders and essentially shutting the door to higher bids.

“The proposed transaction is the product of a fundamentally flawed process that is designed to ensure the acquisition of GeoEye by DigitalGlobe on terms preferential to DigitalGlobe and GeoEye’s board members, but detrimental to plaintiff and other public stockholders of GeoEye,” Colorado...
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