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SAFRAN Counters L-1’s Bid For Digimarc

DDN

Friday, June 27th, 2008

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France's SAFRAN recently said it has made an unsolicited offer to acquire Digimarc Corp. [DMRC], the leader in the United States drivers' license credentialing market for $300 million in cash, which trumps the value of an existing $263 million offer from L-1 Identity Solutions [ID]. SAFRAN's proposed offer must still be evaluated by Digimarc's board of directors, which said "could reasonably be expected to lead to a superior proposal" over L-1's offer. However, SAFRAN has yet to enter due diligence…

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