Exclusive: Silver Lake in the lead to acquire Shutterfly - sources

Reuters News
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Posted: Sep 22, 2014 12:20 PM

NEW YORK (Reuters) - Private equity firm Silver Lake is in advanced talks to acquire Shutterfly Inc, the online photo-sharing services provider, for at least $2 billion, people familiar with the matter said on Monday.

Silver Lake has outbid other private equity firms in an auction for Shutterfly and is now negotiating the terms of a possible acquisition, the people said, cautioning that the talks may not lead to a deal.

Silver Lake is in discussions to pay more than $50 per share for Shutterfly, although the deal price has yet to be finalized, one of the people said.

The people asked not to be identified because the negotiations are confidential. Silver Lake and Shutterfly declined to comment.

(Reporting by Nadia Damouni and Greg Roumeliotis in New York; Editing by Alden Bentley)