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Suitors Bid Low For Eastman Kodak Co Patents; Apple Inc., Google Inc. And Microsoft Corp Reportedly Bidding For Patents-Reuters


Friday, 10 Aug 2012 10:10pm EDT 

Reuters reported that as Eastman Kodak Co's patent auction draws to a close, the Company has only received lowball bids for the patents that it believes are worth $2.6 billion, the Wall Street Journal reported. All offers for Kodak's 1,100 digital patents, for which Apple Inc., Google Inc. and Microsoft Corp are reportedly bidding, have come in significantly below the $500 million mark, the Journal said. Kodak is selling the patents in order to repay creditors. The auction process is expected to continue through the weekend and Kodak lawyers are due to present the bids to the bankruptcy court on Monday at 5 p.m. EDT (2100 GMT), according to bid procedures. 

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