Shutterfly to be bought by Apollo Global in a $2.7 billion dealChristian Fernsby ▼ | June 11, 2019
Shutterfly announced that it has entered into a definitive agreement with affiliates of certain funds managed by affiliates of Apollo Global Management pursuant to which the Apollo Funds will acquire all the outstanding shares of Shutterfly for $51.00 per share in cash, or enterprise value of approximately $2.7 billion.
Acquisition The per share cash consideration represents a premium of 31%
The Shutterfly Board of Directors unanimously approved the agreement with the Apollo Funds and recommends that Shutterfly stockholders vote in favor of the transaction. ■