Deal Snapshot
SHUTTERFLY AGREES TO USD 2.7BN APOLLO GLOBAL BUYOUT
Tuesday 11 June 2019

US-based image publishing services company Shutterfly, Inc. (NASDAQ: SFLY) has entered into a definitive agreement with affiliates of certain funds managed by affiliates of alternative investment manager Apollo Global Management, LLC (NYSE: APO) under which the Apollo Funds will acquire all the outstanding shares of Shutterfly for USD 51.00 per share in cash, or enterprise value of approximately USD 2.7bn, the company said.
The USD 51.00 per share cash consideration represents a premium of 31% when compared to Shutterfly's unaffected closing stock price of USD 38.91 on April 23, 2019, the last trading day before a media report was published speculating that Apollo Funds were considering a bid for the company.


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Details
Date Published: 11/06/2019
Target: Shutterfly, Inc
Country: USA
Deal Size: 2.7bn (USD)
Sector: IT/Online Services
Type: LBO
Financing: Cash
Status: Agreed
Vendor:
Buyer: Apollo Global Management/funds
Buyer Advisor: LionTree, UBS Investment Bank , Evercore , Paul, Weiss, Rifkind, Wharton and Garrison
Comment:


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