D-Day for Creo takeover

The meeting was held in the Canadian city of Burnaby, with a total of 33,186,209 votes cast with respect to the proposed takeover. Shareholders also voted to re-elect Creo's current board of directors, with KPMG LLP also reappointed as the company's auditor for the coming year.

Kodak plans to acquire all issued and outstanding Creo shares through a statutory plan of arrangement at a price of US$16.50 per share, to a total value of approximately US$980 million. Following the landslide approval given to the plan received by Creo shareholders this week, the transaction now only needs to be subjected to the standard regulatory and court approvals.

The final endorsement from the Ontario Superior Court of Justice will be sought on the 1st of April. Creo and Kodak claim they will continue to work together towards obtaining all the necessary regulatory approvals, and aim to complete the transaction before the year comes to a close.