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Weekly Focus Article: ITT Corporation (ITT)

Portfolio Update Regarding GeoEye (GEOY):

Earlier this week, satellite imaging company DigitalGlobe (DGI) made a bid for our portfolio holding company GeoEye (GEOY) for approximately $900 million. Under the terms of the agreement, shareholders of GEOY can choose to receive either $20.27 in cash, 1.425 shares of DigitalGlobe stock, or a combination of 1.137 shares of stock and $4.10 per share in cash. The aggregate consideration mix will reflect 1.137 shares of DGI and $4.10 per share in cash. This values GeoEye at a little over $24 per share and the stock is trading ...

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