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DGIT Rejects $20 Offer, Trading at $12
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Electronic ad delivery company, Digital Generation, rejected a $20 bid. |
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Released on Thursday, June 7, 2012, 8:00 AM ET
Pittsburgh, PA (SpeculatingStocks) - Digital Generation (NASDAQ:DGIT) is receiving a lot of buzz after rejecting a $20 a share buyout offer by Extreme Reach. This is quite the swing, when last year, DGIT tried to sell itself and then turned around and bought MediaMind Technologies, Inc. for $481 million. DGIT is currently trading at a market cap of only $334 million after its stock has suffered much of the last 52-weeks.
It now looks like DGIT's prospects are turning around with such an attractive offer. Digital Generation is also involved in the digital ad delivery space, which is important as companies try to monetize their operations with ads. Mobile ads have been receiving quite a bit of buzz lately with Facebook saying that they need to leverage mobile.
DGIT has distributed over 40 million ads since 2008 and more than 19,000 ads are delivered by Digital Generation to more than 28,000 destinations every day. DGIT is shockingly trading at only $12.13 and moved up $2.54 or 26%+ yesterday. It looks like DGIT has more upside ahead and investors are still just coming onto this situation as news broke late in the trading day yesterday.
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