Type “Creo” in the archive search on WhatTheyThink.com and you’ll retrieve more than 900 news articles, interviews, and special reports. Clearly, Creo is a company much talked about and carefully watched. The conversations have ranged from Printcafe (its launch, the IPO, and the battle with EFI over ownership) to the recent move by dissident shareholders and now the company’s proposed acquisition by Kodak; an acquisition worth approximately $980 million.

And behind every large acquisition there is a story. Some agreements take place over years of negotiation; some are resolved in just a matter of weeks. Kodak’s announcement on January 31 that it would acquire Creo came about over a period of months. Following is a summary of key elements of Creo’s Proxy Circular (SEC Form 6), filed on March 2, which includes a detailed description of the acquisition agreement and the “Plan of Arrangement” involving Creo and Kodak.

In the spring of 2004, Creo was approached by a number of companies (“several”) that were interested in strategic or other kinds of relationships that would involve the all or part of Creo’s business. A committee was formed last summer to explore these opportunities, with the specific intent to enhance shareholder value. The special committee, in August 2004, retained Merrill Lynch as financial advisors and retained legal council, both to advise and assist the special committee in reviewing proposed alternatives.