October 11, 2014 / 12:42 AM / 5 years ago

UPDATE 1-Silver Lake shelves bid for Shutterfly, Snapfish -Bloomberg

(Adds Hewlett-Packard comment)

Oct 10 (Reuters) - Private equity firm Silver Lake failed to reach a deal to acquire and combine photo-sharing sites Shutterfly Inc and Snapfish by a deadline on Friday, Bloomberg reported, citing people familiar with the matter.

Silver Lake was in advanced talks to acquire Shutterfly for at least $2 billion, Reuters reported last month.

Bloomberg reported that Silver Lake is still open to returning to talks with Shutterfly.

Silver Lake has also decided against buying Hewlett-Packard Co’s Snapfish after performing due diligence, according to the report.

A Hewlett-Packard spokeswoman declined to comment on the report. (Reporting By Arathy S Nair in Bangalore; Editing by Maju Samuel and Ken Wills)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below