Olympus’ stock price has been recovering quite nicely after an internal probe found no evidence of yakuza involvement (though they did slam upper management as “rotten”). However, rumors of possible takeover attempts persist. An article published by Bloomberg today reported that Fujifilm may be in the hunt for the beleaguered company:
Fujifilm, which makes equipment for medical scans, has been reported as a possible bidder for Japanese camera maker Olympus Corp. Yamamoto, who also is a board member at Fujifilm, declined to comment on a possible buyout of Olympus today.
Fujifilm Chief Executive Officer Shigetaka Komori said last month it was too early to discuss Olympus issues while the third-party panel was still probing the fraud at the camera maker.
Fujifilm has received a lot of praise lately for its sleek X series cameras, and could take another big step towards becoming a digital camera juggernaut if it somehow landed Olympus.
(via Bloomberg via Mirrorless Rumors)
Image credit: Olympus Trip XB401 by Arty Smokes (deaf mute)
If you look at the price of Kodak’s stock, you’ll see that the company is currently worth about $600 million — a figure that may be significantly lower than what its digital imaging patents could sell for. With the risk looming that a buyer might try to acquire the patents by simply taking over the company, Kodak is taking evasive maneuvers:
The Rochester photo and imaging company said Monday that its board had created a special class of stock to serve as a firewall in case someone tries to take a majority interest in the company.
Under the terms of the deal, if any investor tries to buy 5 percent or more of the company over the next three years, Kodak would issue all current stockholders shares of preferred stock. As a result, any takeover attempt would require the purchase of additional shares that could make the cost prohibitive.
In the business world, this tactic is known as a “poison pill“.
Kodak makes defensive move (via 1001 Noisy Cameras)
Image credit: Pill tablet by doug88888
This might be something you’d see if Flickr moved into the advertising business. It’s an advertising spot taken over by Homer.
(via Laughing Squid)
Image credit: Photograph by Homer and used with permission
What you see here is the history of Kodak stock starting from 1978. In the mid-1990s the stock peaked at over $90 per share, but has experienced a slow demise since then, and is currently at $3.70 a share. What’s more, the company just announced yesterday that profits fell a staggering 95% in the fourth quarter of 2010. During that quarter the company earned just $22 million, compared to the $443 million it earned during the same period a year earlier.
Acquisition rumors have been swirling around for quite some time now as the stock continues its free fall. Any predictions on what will become of this once-great company?
Kodak profit plunges 95%; sales fall short (via Photo Rumors)
Update: Kodak still sees a “big silver lining” amidst all this bad news.