Apollo Global to buy Rackspace Hosting in $4.3 billion deal
- AT&T (T) to Acquire Time Warner (TWX) for $107.50/Share
- Rockwell Collins (COL) to Acquire B/E Aerospace (BEAV) for $6.4B
- China Oceanwide to Acquire Genworth Financial (GNW) for $2.7B
- Top 10 News for 10/17 - 10/21: Merger Rumors Abound; CEOs Depart; Tesla Kicks Autopilot Up A Notch
- Wall Street ends little changed; Microsoft hits record
Leon Black, Chairman and CEO Apollo Global Management, LLC, takes part in Private Equity: Rebalancing Risk session during the 2014 Milken Institute Global Conference in Beverly Hills, California April 29, 2014. REUTERS/Kevork Djansezian
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
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 technology sector.
The $32 per-share-offer represents a premium of 6 percent to Rackspace's Thursday closing price.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- EQT Equity Completes Press Ganey (PGND) Acquisition
- Apple (AAPL) said unlikely to bid for Time Warner (TWX) - Bloomberg
- TripAdvisor (TRIP) Shares Pop Higher Amid Chatter
Create E-mail Alert Related CategoriesInsiders' Blog, Mergers and Acquisitions, Private Equity, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!