Equities

Reuters first to report buyout firm Apollo Global agrees to acquire Shutterfly; market reacts

Reuters first to report buyout firm Apollo Global agrees to acquire Shutterfly; market reacts

Reuters was first to report that private equity firm Apollo Global Management LLC had agreed to acquire U.S. digital imaging company Shutterfly Inc. The firm said it would acquire Shutterfly for $2.7 billion, including the company’s $900 million debt. Shutterfly shares jumped 7% in pre-market trading in New York following the report.