January 30, 2018 / 9:16 PM / 6 months ago

BRIEF-Shutterfly To Buy Privately-Held Lifetouch For $825 mln

Jan 30 (Reuters) - Shutterfly Inc:

* SHUTTERFLY INC. ANNOUNCES DEFINITIVE AGREEMENT TO ACQUIRE PRIVATELY-HELD LIFETOUCH

* SHUTTERFLY INC - DEAL FOR $825 MILLION IN CASH.

* SHUTTERFLY INC - WILL FINANCE ACQUISITION WITH AN INCREMENTAL $825 MILLION TERM LOAN B ISSUANCE

* SHUTTERFLY INC - WILL SUSPEND ITS SHARE REPURCHASE PROGRAM IN FAVOR OF NEAR-TERM DE-LEVERING.

* SHUTTERFLY INC - EXPECTS ACQUISITION TO RESULT IN APPROXIMATELY $935.0 MILLION OF ADDITIONAL NET REVENUES,

* SHUTTERFLY - EXPECTS ACQUISITION TO RESULT IN APPROXIMATELY APPROXIMATELY $100.0 MILLION OF ADDITIONAL ADJUSTED EBITDA IN 12 MONTHS FOLLOWING DEAL’S CLOSE

* SHUTTERFLY INC - ‍WITH THE ACQUISITION, COMBINED COMPANY TARGETS MINIMUM OF $450 MILLION OF ADJUSTED EBITDA BY 2020​

* SHUTTERFLY INC - LIFETOUCH IS A SCHOOL PHOTOGRAPHY COMPANY Source text for Eikon: Further company coverage:

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