Franklin Mutual buys more than 6.8 million shares of Eastman Kodak

By Lisa Kerner

Charlotte, N.C., July 14 - Franklin Mutual Advisers, LLC bought 6,859,976 shares of Eastman Kodak Co. for a total stake in the company of 5.4%.

The shares were acquired between May 12 and July 14 priced from $12.73 to $17.25 each.

Franklin said it believes Kodak's $1 billion share repurchase program announced on June 24 should be expanded or supplemented with additional means of returning capital to shareholders.

Franklin Mutual owns approximately 15.57 million shares of the Rochester, N.Y.-based digital imaging products, services and solutions company.

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