Tigress Financial Partners Downgrades Rackspace (RAX) to Neutral
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Apollo Global to buy Rackspace Hosting in $4.3 billion deal
August 26, 2016 9:21 AM EDTBy 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
Apollo Global to Acquire Rackspace (RAX) in $4.3B Deal
August 26, 2016 8:49 AM EDTRackspace (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
