Shutterfly Inc. is in talks to go public through a merger with a blank check company, less than two years ago after Apollo Global Management Inc. took the online-photo-book maker private. The company is discussing a deal with a special-purpose acquisition company called Altimar Acquisition Corp. II that would value it at between $4 billion and $5 billion including debt. Details of potential involving SPACS, which raise money in a public offering with plans to later find one or more companies to merge with. The Altimar vehicle went public in February, raising $345 million to put forward a deal, which as is typical would likely include more funds raised privately. A previous vehicle, Altimar Acquisition Corp., agreed last year to combine two investment firms and take them to the public in a $12.5 billion deal that at the time was one of the largest blank-check transactions. Founded in 1999, Shutterfly’s namesake brand helps consumers print their photos onto personalized books and gift items. The company owns Lifetouch, which does school photography and operates portrait studios and also has a digital-printing arm for businesses.