Getty Could Still Accept Better Merger Offer
By Ryan • Mar 31st, 2008 • Category: News for Creatives (archives), PhotographyFrom Daryl Lang of PDNonline.com:
“As Getty negotiated a deal to go private, it left the door open to accept a better offer from a strategic partner – perhaps Google, Adobe, Reuters, News Corporation or Sony, new documents indicate.
Documents filed with the Securities and Exchange Commission Thursday show that the Getty board continues to hold out hope for a better deal than the $34 a share offered by private equity firm Hellman & Friedman. That deal was approved by the board in February but still requires shareholder approval.
Documents show Getty can call off the Hellman & Friedman deal if a certain company makes a better offer between now and April 4. Getty refers to the company only as “Strategic Party C,” and has indicated that it is not another private equity firm.
Getty’s financial advisor evaluated sample strategic partnerships with Google, Adobe, News Corporation, Reuters and Sony. It’s unclear if any of them expressed serious interest. A Getty spokesperson declined to comment on the identity of the strategic buyer. “
Ryan is
Email this author | All posts by Ryan
