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Old 11-13-12, 05:30 AM   #1
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Post Kodak gets life-saving loan of $793 million'if it can sell its patents

Kodak has signed a deal to get a lifeline of $793 million in credit from its bondholders, which would allow the company to emerge from bankruptcy. There's one catch, though: the company has to sell its portfolio of 1,100 patents for at least $500 million to get the rest of the cash, according to a report in theWall Street Journal.

Those interested in bidding on the patents include the same coalition of "strange bedfellows" that have been talked about for months as possible buyers. The group includes major smartphone companies like Apple, Google, and Samsung, as well as patent aggregators like RPX Corp. and Intellectual Ventures.

The bondholders includeJ.P. Morgan Securities and UBS AG, among others, according to WSJ sources. The board met last night to approve the deal, and a bankruptcy judge must give the OK as well.

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