Investment firm Trillium Capital has moved to acquire Getty Images Holding Inc in an all-cash deal that values the images company at nearly $4 billion.
Trillium, which already holds over 500,000 shares of Getty, has offered $10 per share for the company, pitting the valuation at $3.95 billion.
In a statement, Trillium told investors that the deal is contingent on several factors, including “immediate engagement” by Getty’s board of directors and shareholder approval.
“We may consider permitting the holders of the large block of shares of Getty (The Getty Family, Koch Industries and Neuberger Berman) who own over 80% of the shares outstanding to roll some or all their shares into our transaction,” the company said.
“We urge the Board to enter a non-disclosure agreement with us and allow us to commence due diligence as soon as possible.”
Getty shares were up nearly 54% at the opening bell Monday at $7.76.
The company has not responded to Trillium’s offer as of Monday morning.
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