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DigitalGlobe Agrees to Acquire GeoEye for About $900 Million

DigitalGlobe Inc. agreed to acquire GeoEye Inc. for about $900 million to create the world’s largest commercial-imagery satellite company.

Each GeoEye share will be exchanged for either 1.137 shares of DigitalGlobe common stock and $4.10 in cash, $20.27 in cash or 1.425 shares of stock, the companies said in a statement today. The premium is 34 percent more than Herndon, Virginia-based GeoEye’s closing price of $15.17 on July 20.