Apollo Global to buy Rackspace Hosting in $4.3 billion deal

By Narottam Medhora
Reuters

(Reuters) - Apollo Global Management LLC <APO.N> said on Friday it would buy cloud services provider Rackspace Hosting Inc <RAX.N> 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.

08/26/2016 9:55

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