Two Large Tech Rivals Might Team in Bid for Kodak's (EKDKQ) Patent Portfolio
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Eastman Kodak Co. (OTCBB: EKDKQ) remains lower on the session Friday following reports that its patent sale is causing the unusual to become, well, less so.
Reports from the WSJ have rivals Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) possibly teaming up in an effort to buy the intellectual portfolio. The duo will lead a group of investors, which include Intellectual Ventures Management and RPX Corp. (Nasdaq: RPXC).
No word on the price expected to be paid, but reports on Thursday had a price of $500 million, which was far below the $2.2 billion to $2.6 billion Kodak originally expected.
Kodak shares are down 7.5 percent in afternoon trading.
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Reports from the WSJ have rivals Apple (Nasdaq: AAPL) and Google (Nasdaq: GOOG) possibly teaming up in an effort to buy the intellectual portfolio. The duo will lead a group of investors, which include Intellectual Ventures Management and RPX Corp. (Nasdaq: RPXC).
No word on the price expected to be paid, but reports on Thursday had a price of $500 million, which was far below the $2.2 billion to $2.6 billion Kodak originally expected.
Kodak shares are down 7.5 percent in afternoon trading.
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