William Blair Downgrades Rackspace (RAX) to Market Perform
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August 26, 2016 12:56 PM EDT
JMP Securities downgraded Rackspace (NYSE: RAX) from Market Outperform to Market Perform.
For an analyst ratings summary and ratings history on Rackspace click here. For more ratings news on Rackspace click here.
Shares of Rackspace closed at $30.19 yesterday.
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August 26, 2016 11:38 AM EDT
Needham & Company affirms Rackspace Hosting (NYSE: RAX) at Hold following news that Apollo Group would acquire the company for $32 per share.
The firm commented, When the history is finally written on RAX as a public company we suspect it will largely read... More
August 26, 2016 9:21 AM EDT
By Narottam Medhora
(Reuters) - Apollo Global Management LLC (NYSE: APO) said on Friday it would buy cloud services provider Rackspace Hosting Inc (NYSE: RAX) in a deal valued at $4.3 billion, as the private-equity firm increases its investments in the... More
August 26, 2016 8:49 AM EDT
Rackspace (NYSE: RAX) entered into a definitive agreement with affiliates of certain funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO), a leading global alternative investment manager, to be acquired for $32.00 per share in cash. In connection with the transaction, funds managed by Searchlight Capital Partners, L.P. will make a strategic equity investment in the acquired company. The transaction has a total value of $4.3 billion, which includes the assumption of $43 million of net cash. Upon completion of the transaction, Rackspace will become a privately held... More
