jmcguckin
7-Jan-2005, 20:51
Polaroid to be bought by Petters
Maker of instant cameras and film will be acquired by privately held company for $426 million.
January 7, 2005: 5:09 PM EST
NEW YORK (Reuters) - Polaroid Holding Co., the maker of instant cameras and film, said Friday it would be acquired by Petters Group Worldwide for $426 million in cash.
The deal, which is expected to close in the second quarter, valued Polaroid at $12.08 a share in cash. The company will be a subsidiary of privately held Petters, which also has invested in uBid.com and Fingerhut Direct Marketing.
Since 2002, an affiliate of Petters has been a Polaroid licensee in North America for consumer electronics including DVD players and plasma, and traditional televisions.
Maker of instant cameras and film will be acquired by privately held company for $426 million.
January 7, 2005: 5:09 PM EST
NEW YORK (Reuters) - Polaroid Holding Co., the maker of instant cameras and film, said Friday it would be acquired by Petters Group Worldwide for $426 million in cash.
The deal, which is expected to close in the second quarter, valued Polaroid at $12.08 a share in cash. The company will be a subsidiary of privately held Petters, which also has invested in uBid.com and Fingerhut Direct Marketing.
Since 2002, an affiliate of Petters has been a Polaroid licensee in North America for consumer electronics including DVD players and plasma, and traditional televisions.