GeoEye, whose GeoEye-2 satellite (above) is under development for launch next year, is seeking to acquire DigitalGlobe in large part to address potential major cuts in the US government’s EnhancedView imagery contracts. (credit: GeoEye/Lockheed Martin Space Systems Company)
DigitalGlobe Rebuffs GeoEye Bid As Battle Begins For Control Of Commercial Spy Satellites -- Aol Defense
Only one company is likely to survive the coming budget intelligence community budget cuts to commercial imagery purchases. Both GeoEye and DigitalGlobe appear to believe they will be the victor, opening the door on what could become a damaging contest for control of the U.S. commercial imagery market.
DigitalGlobe, a company that says nothing publicly as much as possible, offered a bold rejection of GeoEye's offer on Sunday. Their board of directors looked at GeoEye's bid and "unanimously" rejected it. The company said "it substantially undervalues the Company in relation to DigitalGlobe's standalone business and financial prospects" and "does not adequately recognize DigitalGlobe's superior track record of financial and operating performance as well as its constellation's greater capabilities."
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More News On GeoEye's Bid For DigitalGlobe
GeoEye, DigitalGlobe merger talks reach impasse -- Washington Technology
DigitalGlobe board rejects GeoEye $792M bid -- Bloomberg Businessweek
DigitalGlobe Rejects GeoEye Proposed Acquisition -- Defense Update
DigitalGlobe Rejects GeoEye Bid -- Aviation Week
GeoEye Proposes Acquisition Of DigitalGlobe -- Space Daily
GeoEye mulls options as rival rejects takeover bid -- Reuters
GeoEye Disappointed by DigitalGlobe, Inc.'s Rejection Of the Proposed Acquisition -- Market Watch
DigitalGlobe looks past GeoEye offer -- Deal Pipeline
DigitalGlobe Says Rejected GeoEye Takeover Bid Driven by Desperation -- Space News
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