June 10, 2019 / 8:47 PM / 5 months ago

Shutterfly to be bought by Apollo Global in a $2.7 billion deal

(Reuters) - Digital imaging company Shutterfly Inc has agreed to be acquired by Apollo Global Management LLC in a $2.7 billion deal, the private equity firm said on Monday.

Apollo’s cash offer of $51 per share represents a premium of about 1.5% to Shutterfly’s closing price on Monday.

Earlier on Monday, Reuters reported that Apollo was in the lead to acquire Shutterfly. (reut.rs/2WZY8wB)

Reporting by Ankit Ajmera in Bengaluru; Editing by Maju Samuel

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