DigitalGlobe Gets Unsolicited Acquisition Offer From GeoEye

Longmont, Colorado-based DigitalGlobe said this morning that it has received an unsolicited offer from competitor GeoEye, to acquire the company for $17.00 per share in cash and stock. The deal is worth approximately $792M. DigitalGlobe said it is reviewing the proposal, and has retained Morgan Stanley and Barclays as financial advisors to the firm. The firm's legal counsel is Skadden, Arps, Slate, Meagher & Flom LLP. DigitalGlobe is a provider of high resolution, satellite imaging services.