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Tuesday, September 23, 2014

Market Chatter-Corporate finance press digest - Sept 23, (NASDAQ: SFLY)

The following corporate finance-related stories were reported by media:* Private-equity firm Silver Lake is in advanced talks to acquire online photo-sharing service Shutterfly Inc for at least $2 billion, people familiar with the matter said on Monday.* Bayer has appointed investment bank Rothschild to advise on the German drugmaker's plan to list its plastics business, in a deal that could value the unit at about 10 billion euros ($13 bln), sources familiar with the situation said.

Shutterfly, Inc. is an Internet-based social expression and personal publishing service that enables consumers to share, print and preserve their memories its technology, manufacturing, Web-design and merchandising capabilities. Shares of SFLY traded higher by 5.47% or $2.6/share to $50.12. In the past year, the shares have traded as low as $36.30 and as high as $58.22. On average, 888947 shares of SFLY exchange hands on a given day and today's volume is recorded at 2934606.