Kodak Says Icahn Wins FTC’s OK to Buy Stake

Eastman Kodak Co., the world’s largest maker of film, said billionaire Carl Icahn received clearance from the Federal Trade Commission to buy as much as a $500-million stake in the company.

Icahn, who didn’t return calls for comment, isn’t obligated to purchase stock, and government filings don’t show that a purchase has occurred. Icahn filed to buy Kodak shares in a Hart-Scott-Rodino regulatory filing, said a Kodak spokesman. The purchase would amount to 7% of the company’s shares outstanding based on the most recent closing price.

Kodak shares rose 10 cents to $24.31 on the NYSE.

The FTC sent an “early termination” notice to Icahn on Oct. 29. The letter means the agency doesn’t see a regulatory reason to prohibit Icahn from buying the securities, according to rules published on the FTC’s Web site.