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Getty Images agrees to be bought by private equity firm for $2.03 billion

Getty Images agrees to be bought by private equity firm for $2.03 billion

Getty Images has agreed to be bought by a private equity firm for about $2 billion (euro1.35 billion).
The Seattle seller of stock photography and video footage says a unit of Hellman & Friedman LLC agreed to pay $34 (euro22.90) per share in cash. The offer puts a premium of 39 percent over the stock's closing price Friday of $24.45 (euro16.47).
Getty values the deal at $2.4 billion (euro1.62 billion) including debt. Based on the company's 59.8 million shares outstanding at the end of the year, the cash offer is worth $2.03 billion (euro1.37 billion).
Getty put itself on the block at the end of January. Financing for private equity deals has become more expensive amid recent turmoil on the credit markets.


Updated : 2021-01-21 01:39 GMT+08:00