“NEW YORK (AP) — Shares of Shutterfly Inc. surged before Friday’s opening bell as analysts say the online photo publisher’s plan to buy Kodak’s online photo service will remove a big competitor and benefit growth.
Eastman Kodak Co., which filed for Chapter 11 bankruptcy protection in January, said Thursday that Shutterfly wants to buyKodak Gallery for $23.8 million.
The deal would include the transfer of Kodak Gallery’s 75 million U.S. and Canadian customer accounts and their images to Shutterfly, although Kodak customers can opt out…”
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