Polaroid acquired by Petters Group for $426 million
Petters Group and Polaroid today agreed to merge in a deal valued at $426 million. According to a statement released by the firms, Petters Group will pay Polaroid shareholders $12.08 per share in cash, representing almost 13 percent premium over Polaroid’s stock.
As a result of the acquisition, Polaroid will become a wholly owned subsidiary of Petters and no longer be publicly traded. Polaroid will join the Petters portfolio of companies which currently includes 14 consumer-oriented firms such as uBid and Soniqcast. (THG)
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