News Formal

Shutterfly strikes take-private deal with Apollo Global, valuing company at $2.7 billion

  • 📰 CNBC
  • ⏱ Reading Time:
  • 6 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 72%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Digital imaging company Shutterfly announced on Monday that it's agreed to be acquired by Apollo Global Management.

Apollo Funds will acquire all outstanding shares of Shutterfly for $51 per share in cash, which represents a premium of roughly 1.5% to Shutterfly's closing price on Monday. Shutterfly ended the trading day up 2.7%, and was briefly halted in extended trading.

In a separate announcement on Monday, Shutterfly named Ryan O'Hara president and CEO, effective June 24.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How SurveyMonkey recovered from the death of its CEO and became a $2.1 billion public companySurveyMonkey went public three years after its CEO, Dave Goldberg, suddenly died. The company is now run by Zander Lurie.
Source: BusinessInsider - 🏆 729. / 51 Read more »