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FTC Okays Getty Deal . . . |
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Written by Ron Rovtar, Managing Editor, the Stock Asylum
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Thursday, 20 March 2008 |
 The Federal Trade Commission (FTC) has given its nod to the proposed acquisition of Getty Images by affiliates of Hellman & Friedman, LLC.
FTC approval removes one hurdle for the $2.4 billion purchase of Getty Images by the private equity company. The deal includes the assumption of Getty debt. About $2.1 billion will go to shareholders who will receive $34 in cash for each share of Getty Images stock.
In an unrelated matter, The Securities and Exchange Commission has said it is ending its informal probe of the Getty Images' stock options practices without recommending legal action against the company.
The acquisition of Getty Images is expected to close during the second quarter of this year.
The company still faces shareholder court cases involving both the acquisition and the company's stock options practices.
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