ACQUISITIONS: A Picture Perfect Rescue

A Picture Perfect Rescue

For nearly a century the name Eastman Kodak has been almost synonymous with photography. But in recent years the Rochester company has branched out into fields as far-ranging as computer disks and batteries. Last week Kodak made its most sweeping diversification move yet. The firm agreed to pay $5.1 billion to acquire Sterling Drug, the maker of such popular products as Bayer aspirin and Lysol cleaners. New York City-based Sterling welcomed the agreement as a way of escaping a takeover bid by F. Hoffmann-La Roche, the Swiss drug company.

The deal underscores Kodak's swift financial turnaround. In 1985 and 1986 the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!