SAN DIEGO, Feb. 24, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of DigitalGlobe, Inc. (NYSE: DGI) breached their fiduciary duties in connection with the proposed sale of the Company to MacDonald Dettwiler. DigitalGlobe provides earth-imagery products and services sourced from own satellite constellation and third-party providers in the United States and internationally.
On February 24, 2017, DigitalGlobe announced they have entered into a definitive merger agreement, pursuant to which MacDonald Dettwiler will acquire DigitalGlobe for $35.00 per share in a combination of cash and stock. Under the deal terms, MacDonald Dettwiler will offer $17.50 in cash and 0.3132 of its shares for each DigitalGlobe share held. Shareholders will be subject to the future price fluctuation of MacDonald Dettwiler's stock price.
The investigation concerns whether the DigitalGlobe board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for DigitalGlobe shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration; especially given that the price target for one Wall Street analyst is $44.00.
If you are a shareholder of DigitalGlobe and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP