Creo for sale?

Joanne Cummings

Printing and workflow vendor Creo says it’s open to acquisition offers and announced it has hired Merrill

Lynch to help it sort through its alternatives.

The vendor said that in July, its board of directors established a

committee of independent directors to review strategic alternatives in order to

“enhance shareholder values.”

Alternatives discussed included “acquisitions, alliances with

strategic partners, resale arrangements, business combinations, and the sale of

all or a portion of the company’s assets.”

The company stressed, however, that no decisions had been made as yet and

that it expects to be profitable over the near term.

“Our board and the management remain confident that given the strategic

direction we have established, we will provide increasing earnings,” said Creo

CEO Amos Michelson in a prepared statement. “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.”