Rumor: Buyout firm Apollo Global in the lead to acquire Shutterfly

GaryPageau

According to Reuters, private-equity firm Apollo Global Management LLC is in the lead to acquire Shutterfly Inc after making the highest offer, people familiar with the matter said on Monday. According to the article:

“Apollo’s exact offer could not be learned, but the deal would value Shutterfly at close to $2 billion, excluding its debt pile of more than $900 million, the sources said.”

As the Dead Pixels Society has previously reported, the Shutterfly board has put together a strategic committee to evaluate acquisition offers. This may be an ideal time to take the company private, we surmised.

This is a developing story and will be updated as it progresses.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.