- Digital photo website gets letter outlining PE interest
- Details anonymously forwarded to investment community
Shutterfly Inc., a digital photo website, said it received an expression of takeover interest from a private equity firm it doesn’t identify. The company isn’t negotiating a deal.
The letter outlining interest in a deal was also forwarded to "certain participants in the investment community" without Shutterfly’s knowledge or permission, the company said in a statement.
Shutterfly said it’s not currently in talks over a deal and is instead focused on 2016 results, while seeking to hire a new chief executive.