Kodak patents bid tops $500m mark
Kodak has received an offer in excess of the required US$500 million for its digital imaging patents, according to reports.
07 Dec 2012 | By Samir Lukka
Kodak patents bid tops $500m mark
The Wall Street Journal has claimed a consortium of bidders has submitted an offer for the patents, citing people familiat with the matter. Crucially, the offer is said to be more than US$500 million minimum that was stipulated as a condition of Kodak's new US$830 million finance facility.
According to the WSJ, the consortium includes Silicon Valley technology companies and firms that specialise in buying patents, while the bid was said to have been filed in recent weeks.
Kodak will need to complete the sale of its digital imaging patents, for at least US$500 million, in early 2013 in order to secure the US$830 million interim and exit finance facility.
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