Getty Images Shares Soar After Buyout Offer From Trillium Capital LLC

Shares of Getty Images (GETY) skyrocketed after activist investor Trillium Capital LLC offered to buy the provider of stock photos for about $4 billion.

The deal would have Trillium pay $10 per share for Getty, almost double its closing price of $5.06 on Friday, April 21. Trillium already owns half a million shares of the company.

Trillium indicated that the non-binding proposal is contingent on several factors, including that Getty’s board immediately begin engaging on the offer. In addition, Trillium said that, if the deal goes through, it expects its managing partner Scott Murray to join the board and become the chair.

Read the source article at investopedia.com