Shutterfly (SFLY) Investors Like Kodak Buy, Shares Ramp
Tweet
Share
E-mail
Get Alerts SFLY Hot Sheet
Join SI Premium – FREE
Shutterfly, Inc. (Nasdaq: SFLY) is jumping after-hours Thursday following news the company will buy Eastman Kodak's Gallery on-line photo services for $23.8 million.
The terms of the agreement include the transfer of Gallery customer accounts and images in the U.S. and Canada to Shutterfly. The agreement comprises the initial, stalking horse bid in a Court-supervised auction process under Section 363 of the U.S. Bankruptcy Code that will ensure the maximization of value for the assets.
Shutterfly last traded at $29.30, up 9% from the close.
The terms of the agreement include the transfer of Gallery customer accounts and images in the U.S. and Canada to Shutterfly. The agreement comprises the initial, stalking horse bid in a Court-supervised auction process under Section 363 of the U.S. Bankruptcy Code that will ensure the maximization of value for the assets.
Shutterfly last traded at $29.30, up 9% from the close.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Nscale targets up to $3B in US IPO as soon as September - Bloomberg
- Faraday Future reports record Q2 revenue, cuts debt by $100M
- Hunterbrook bullish on Modine Manufacturing (MOD)
Create E-mail Alert Related Categories
Mergers and Acquisitions, Momentum Movers, Trader TalkRelated Entities
BankruptcySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
