Shutterfly +3.5% on new M&A chatter

|About: Shutterfly, Inc. (SFLY)|By:, SA News Editor

Shutterfly (NASDAQ:SFLY+3.5% as StreetInsider sources say the company is close to accepting a $55 to $57.50/share acquisition offer.

Earlier this year, SFLY announced forming a review committee to consider strategic alternatives.

Last month, Shutterfly shares spiked after Bloomberg sources said Apollo and Cerberus were considering bids for the company.

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