Getty Images' proposed $2 billion buyout by private equity group Hellman & Friedman was approved by shareholders Friday.
Shareholders approved Getty Images’ plan to sell itself for $2 billion 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 the buyout offer in 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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