Shutterfly says no rival bids for Kodak business

Reuters News

4/25/2012 9:33:46 AM - Reuters News

(Reuters) - Photo-sharing service Shutterfly Inc <SFLY.O> said there were no competing bids for Eastman Kodak Co's <EKDKQ.PK> online photo services business that Shutterfly is set to buy for $23.8 million.

Eastman agreed to sell the business to Shutterfly last month, kicking off the bankrupt photography pioneer's relaunch as a slimmer company.

The companies plan to close the deal following final approval by the bankruptcy court, Shutterfly said in a statement on Wednesday.

(Reporting by Sayantani Ghosh in Bangalore; Editing by Don Sebastian)