Company said to be seeking Creo for $1 billion

Monday, Jan. 31, 2005 | 9:35 a.m.

The Eastman Kodak Co. is in talks to acquire Creo Inc., a Canadian printing technology company, for about $1 billion, executives close to the negotiations said over the weekend.

Exact terms of the proposed deal could not be learned. The executives cautioned that it was still possible the talks could fall apart.

Creo is under attack from dissident shareholders who are seeking to oust its management.

The deal would be the latest in a string of acquisitions by Kodak, which is based in Rochester. Two years ago, Kodak set aside $3 billion for purchases, and $1 billion remains.

Creo's board is being advised by Merrill Lynch over the possible sale of part or all of the company.

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