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Apollo Global to buy Shutterfly for $2.7 bln

Jun 11, 2019 - peHUB
Board and Executive Moves-Mergers and Acquisitions

Apollo Global Management has agreed to buy Shutterfly Inc for $51 a share or $2.7 billion. Ryan O’Hara was named president and CEO of  Shutterfly effective June 24. Shutterfly is an online retailer.

PRESS RELEASE

SHUTTERFLY, INC. AGREES TO BE ACQUIRED BY CERTAIN FUNDS MANAGED BY AFFILIATES OF APOLLO GLOBAL MANAGEMENT IN AN ALL-CASH TRANSACTION WITH AN ENTERPRISE VALUE OF $2.7 BILLION

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Shutterfly, Inc. stockholders to receive $51.00 per share in cash

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Jun. 10, 2019– Shutterfly, Inc.(Nasdaq: SFLY) (“Shutterfly” or the “Company”), a leading retailer and manufacturing platform dedicated to helping capture, preserve, and share life’s important moments, today announced that it has entered into a definitive agreement with affiliates of certain funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, “Apollo”) (NYSE: APO), a leading global alternative investment manager, 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 bi...