Kodak Receives Approval from European Union to Purchase Creo

Eastman Kodak receives EU approval for Creo acquisition
05/04/05 – newratings.com

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LONDON, May 4 (newratings.com) – Photography film giant Eastman Kodak Co (EK) has received the European Union (EU) anti-trust approval for its proposed acquisition of Canada-based Creo Inc, a manufacturer of digital printing equipment.

Eastman Kodak had announced in January its decision to purchase Creo for $980 million in cash. The deal is part of Eastman Kodak’s efforts to reduce its reliance on photographic films. The European Commission, the regulatory arm of the EU ruled that the merged company is unlikely to impede effective competition. The EC also ruled out the possibility that the company would be able to offer more fully integrated pre-press services, while mentioning that there would be many alternative competing sources of supply.