Creo May Seek Buyer, Outlines Review of Strategic Alternatives
Press release from the issuing company
Editor's Note: See a free exclusive report by WhatTheyThink.com's Senior Editor on Creo's recent announcements including more about the press release below.
VANCOUVER, British Columbia--Oct. 15, 2004-- Creo Inc. reported today that in July 2004 its board of directors established a committee of independent directors to review strategic alternatives with the objective of enhancing shareholder value. The committee, management, and its advisors are charged with the evaluation of the company's business plan and the consideration of a full range of strategic options, including acquisitions, alliances with strategic partners, resale arrangements, business combinations, and the sale of all or a portion of the company's assets. The company has retained Merrill Lynch to assist in this process.
Amos Michelson, Creo chief executive officer, stated, "Our board and the management remain confident that given the strategic direction we have established and the initiatives we announced on October 6, we will provide increasing earnings. Nevertheless, Creo's board and management are evaluating all alternatives for maximizing shareholder value. Any action pursued by the company will be in the best interests of all shareholders."
The company notes there can be no assurance that its review will result in any change in its business strategy or in the consummation of any agreement or transaction.
See a free exclusive report by WhatTheyThink.com's Senior Editor on Creo's recent announcements including more about the press release below.
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