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

Reuters News
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.

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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)