Report: Shutterfly draws M&A interest

|By:, SA News Editor

Sources tell dealReporter Shutterfly (SFLY +3.1%) has drawn buyout interest as it continues looking for a suitor. Shares have spiked higher on the report.

Bloomberg reported 4 weeks ago Shutterfly has hired Qatalyst Partners (headed by famed tech banker Frank Quattrone) to find a buyer.

Q2 results are due this afternoon.