Eastman Kodak Co. will have to wait a little longer for a photo finish to its patent auction. The company extended the auction Monday “in light of continuing discussions with bidders,” according to an official statement.
Kodak, which filed for Chapter 11 bankruptcy protection in January, hopes to use money from the sale to repay investors. But the Wall Street Journal reported last week that opening offers for the company’s 1,100 digital patents fell well below Kodak’s original assessment of $2.6 billion. Apple Inc., Google Inc. and Microsoft Inc. were all among the bidders, according to the WSJ.