Getty Explores Strategic Alternatives

Posted on 1/22/2008 by Jim Pickerell | Printable Version | Comments (0)

After rumors of a potential sale surfaced yesterday, Getty Images has officially confirmed that its board of directors is exploring strategic alternatives to enhance shareholder value. It has retained Goldman, Sachs & Co. as its financial advisor and Weil, Gotshal & Manges LLP as its legal advisor in connection with its evaluation of such alternatives.

"While the evaluation process, including discussions with various interested parties, is ongoing, there can be no assurance that any transaction will occur or as to the timing, structure, price or terms of any transaction," the release stated. "Getty Images does not plan to update the market with any further information on the process unless and until such time as its Board of Directors deems appropriate."

By noon on Tuesday, Getty's stock had risen more than 14% from its $21.94 Friday closing to $25.08.


Copyright © 2008 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-251-0720, e-mail: wvz@fpcubgbf.pbz

Jim Pickerell is founder of www.selling-stock.com, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to: http://www.jimpickerell.com/Curriculum-Vitae.aspx.  

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