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Getty Images shareholders approve $2B sale

By Associated Press
June 20, 2008 | Comments (0)

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Shareholders say Getty Images Inc. can go ahead with its plan to sell itself to private equity group Hellman & Friedman of San Francisco.

After taking a beating from Wall Street for two years, Getty Images, the leading provider of stock photography and video, agreed to a $2 billion buyout offer February.

Seattle-based Getty's board has already approved the deal that won shareholder support with Friday's vote.

In addition to paying $34 per share for Getty's nearly 60 million outstanding shares, Hellman & Friedman will also take on about $300 million in debt.

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