Notable Mergers and Acquisitions of the Day 05/04: (GEOY)/(DGI) (ABH) (LNKD)
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- GeoEye, Inc. (Nasdaq: GEOY), is proposing to acquire DigitalGlobe, Inc. (NYSE: DGI).
The proposed transaction would give DigitalGlobe shareholders $17.00 per share in total consideration, payable $8.50 per share in cash and $8.50 in GeoEye stock, or 0.3537 shares of GeoEye stock for each share of DigitalGlobe stock. This price represents a 26% premium to DigitalGlobe's closing share price on May 3, 2012. The proposal is structured to provide DigitalGlobe shareholders with the opportunity to participate in the dynamic future growth of the combined company.
- AbitibiBowater Inc., doing business as Resolute Forest Products (NYSE: ABH) has taken up and accepted for payment 4,893,197 additional shares of Fibrek Inc. deposited to its offer as of the close of business today. Together with the shares the Company acquired up to and including May 2, Resolute now holds approximately 53.8% of the currently outstanding shares. As aggregate consideration for the shares taken up today, Resolute will distribute approximately 139,000 newly-issued shares of its common stock and CAD$2.7 million in cash through RFP Acquisition Inc., a wholly-owned subsidiary.
The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the "SEDAR" website maintained by the Canadian Securities Administrators, as varied and extended. As further described in the offer circular and other ancillary documentation related to the offer (as amended), Resolute intends to carry out a second step transaction to acquire the Fibrek shares not deposited in the offer.
- After the market closed Thursday, LinkedIn (NYSE: LNKD), announced it agreed to acquire SlideShare, a leading professional content sharing community.
The transaction is valued at approximately $118.75 million, subject to adjustment, in a combination of approximately 45 percent cash and approximately 55 percent stock. Subject to the completion of customary conditions, the acquisition is expected to close during the second quarter of 2012.
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