THE DEVELOPMENT: Shutterfly Inc. emerged as the sole and thus the likely winning bidder for Eastman Kodak‘s online photo services business.
RESPONSE: Shutterfly’s stock climbed. The deal could help Shutterfly ramp up growth in a competitive industry.
WHAT HAPPENS NEXT: Pending final approval by a bankruptcy court, the business will be Shutterfly’s for $23.8 million. Kodak filed for bankruptcy protection in January.
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