Creo shareholders OK acquisition by Kodak

Apr 6, 2005 5:23 PM

Creo Inc.’s (Vancouver, British Columbia) shareholders have voted to approve Eastman Kodak Co.’s (Rochester, NY) proposed acquisition of Creo and to waive the application of the company's shareholder rights plan to the transaction. Additionally, they’ve re-elected the 10 current members of the Creo board of directors.

As previously announced, Kodak intends to acquire of all of the issued and outstanding common shares of Creo by way of a statutory plan of arrangement at a cash price of $16.50 per share, or approximately U.S. $980 million.

The parties expect to complete the transaction this summer.

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