Polaroid Acquired for $426 Million
Jan 10, 2005 — WALTHAM, Mass., and MINNEAPOLIS, Minn., Jan. 10 -- Polaroid Holding Co. and Petters Group Worldwide announced Friday they have reached an agreement for Petters, through an affiliate, to acquire Polaroid, by merger, for $12.08 per share in cash. The total value of the transaction is approximately $426 million. Following the merger, Polaroid will become a wholly owned subsidiary of Petters, and Polaroid Holding Co. will no longer be a publicly traded company. Polaroid's board unanimously approved...