Kodak has announced it has entered into a preliminary agreement to sell certain
assets of its Document Imaging business to Brother Industries, Ltd., for the proposed sale of for a cash purchase price of
approximately $210 million, subject to certain price adjustments at
closing.
In addition, Brother will assume deferred
service revenue liability of the business, which totaled approximately
$67 million as of December 31, 2012. Consummation
of the transaction with Brother is subject to court approval and will follow a marketing period in which Kodak may seek to obtain a higher or better
offer for the business, alone or in combination with other businesses,
including through a court-approved auction.
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