Deals
Apollo, Cerberus Consider Shutterfly Bids, Lifting Stock
- Shutterfly hired advisor for strategic review in February
- Share jump gives Shutterfly market value of $1.5 billion
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Shutterfly Inc., the online retailer working with a financial adviser to review strategic alternatives, has drawn interest from Apollo Global Management LLC and Cerberus Capital Management, according to people familiar with the matter.
The buyout firms are weighing separate bids for the Redwood City, California-based company, said the people, who asked to not be identified because the matter isn’t public. Both have discussed financing options with lenders, the people said.