Shutterfly +6% as Apollo nears acquisition - Reuters

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

Reuters reports that PE firm Apollo Global Management (NYSE:APO) is the lead bidder for acquiring Shutterfly (NASDAQ:SFLY).

Sources didn't specify the exact offer, but Apollo's deal would value Shutterfly at nearly $2B, excluding its more than $900M in debt.

The deal could be announced as early as this week if Shutterfly accepts the bid.

Shutterfly shares are up 6.2% to $52.

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