Getty Images to sell to private equity for $2.4bn
Posted by Jean Yves Chainon on February 26, 2008 at 9:36 AM
Getty Images has agreed to sell itself to private equity firm Hellman & Friedman for $2.4 billion including debt.
The price, $34 a share, represents a 55% premium over Getty’s share price on Jan. 18, before it announced the possible bid.
Getty Images is the world’s largest provider of photographs and images to publications and ad agencies.
Early last year, Getty had acquired its biggest competitor, MediaVast, for $202 million.
The deal is expected to close in the second quarter this year.
Source: Guardian – Bloomberg – NY Times through European Journalism Centre
The price, $34 a share, represents a 55% premium over Getty’s share price on Jan. 18, before it announced the possible bid.
Getty Images is the world’s largest provider of photographs and images to publications and ad agencies.
Early last year, Getty had acquired its biggest competitor, MediaVast, for $202 million.
The deal is expected to close in the second quarter this year.
Source: Guardian – Bloomberg – NY Times through European Journalism Centre
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