In the last few days, it is not difficult to imagine getting benefits on photography service provider Getty images ,Getty -0.53%,Eventually, the company had a hot item on the stock market, thanks to a well -obtained deal to merge with a colleague. According to data compiled by S&P Global Market IntelligenceBy late night on Thursday, the shares were extended to more than 13% weeks till date.
The merger approved
On Tuesday, photo-sharing site operator Shutterstock Announced that its shareholders approved – by a large majority – his company’s pending merger with gati images. The vote was about 82% in favor of this step.
Image Source: Getty Image.
In its press release, Shutterstock wrote that “the joint company will be well deployed to meet the changing needs of customers through content manufacturing, event coverage and joint investment in product and technology innovation.”
The cash-end-stock deal originally agreed earlier this year, and although it is described as a “equal merger”, the name of the Getty Image would be maintained for the joint unit. In addition, the current gati image stockholders will hold about 55% of the new business according to the rough calculation.
It is not that many investors in any company feel – the equity of the Shutterstock also pops up on the news of that shareholder vote.
Insider division
After the Shutterstock Poll, several internal sources in both companies sold some equity holdings such as merger and validate its price. Among these individuals were the senior vice president of the e-commerce of Getty Image, Dine Weston, who removed some class A Common Stocks and Shuttocks of his company. Director With the sale of 9,700 banned stock units, Didre Bagle.
