GeoEye, Inc., a leading source of geospatial information and insight announced that its Board of Directors has adopted a Shareholder Rights Plan. Under the plan, one preferred stock purchase right will be distributed for each share of common stock held by stockholders of record on June 22, 2011. The rights plan has a one year term. It is intended to enable all of the Company’s stockholders to realize the long-term value of their investment in the Company by guarding against inadequate or unsolicited takeover offers. The rights are not being distributed in response to any specific effort to acquire control of the Company. The rights are designed to ensure that the Board of Directors has sufficient time to consider any proposal and make sure that all stockholders receive fair and equal treatment in the event of any proposed takeover of the Company. In addition, the rights plan will guard against partial tender offers, open market accumulations and other coercive tactics aimed at gaining control of the Company without paying all stockholders a full control premium for their shares. Learn More
