(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