Join        Login             Stock Quote

DigitalGlobe (DGI), GeoEye (GEOY) Merger Gets Antitrust Clearance

 January 09, 2013 01:50 PM

(By Balachander) DigitalGlobe Inc.'s (NYSE: DGI) pending combination with GeoEye Inc. (NASDAQ: GEOY) has received antitrust clearance from the U.S. Department of Justice.

GeoEye, a provider of geospatial information, in July 2012 agreed a merger with DigitalGlobe to create a global leader in earth imagery and geospatial analysis.

[Related -Stock Upgrades And Downgrades: BIG, CLH, DGI, DVA, PETM, SD, SCTY]

Closing of the deal is subject to obtaining regulatory approval from the Federal Communications Commission (FCC) and the National Oceanic and Atmospheric Administration (NOAA).

The deal worth $453 million is expected to be completed by January 31, 2013, during which period the company expects to complete a $1.2 billion refinancing.

The refinancing is expected to include a combination of senior notes and senior secured credit facilities.

DigitalGlobe provides commercial high-resolution earth imagery products and services and Herndon, Virginia-based GeoEye's stereo imagery provides three-dimensional viewing and feature recognition for a number of engineering applications.

On Tuesday, GeoEye announced first sale of its stereo imagery products to the Government of India. GeoEye said it received an order from the Government of India for the stereo imagery from the high resolution GeoEye-1 satellite.

[Related -Geoeye (GEOY) Gets Stereo Imagery Order From Indian Government, Shares Jump]

On Wednesday, DigitalGlobe shares rose 4.15 percent to trade at $28.33 and GeoEye shares jumped 6.80 percent to trade at $36.30.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageSavings Glut and Financial Imbalances

Martin Wolf in today's Financial Times discusses the reasons for low interest rates and suggests some read on...

article imageA Dividend Aristocrat Is Now On Sale

The bear market investors have been dreading is already here for many individual stocks. While the S&P 500 read on...

article imageTwo Picks to Play Defense in a Slowing Economy

Is the economy slowing? Last Thursday the Institute for Supply Management (ISM) reported that its read on...

article imageUS Jobless Claims Fall, Moving Closer To Multi-Decade Low… Again

US jobless claims continue to cast a positive glow on the outlook for the labor market. Today’s weekly read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.