Rackspace Hosting shares rise after Apollo Global buys it in $4.3 billion deal

August 26, 2016 1:36 PM

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Rackspace Hosting shares rise after Apollo Global buys it in $4.3 billion deal

Cloud company Rackspace on Friday announced that it has entered into a $4.3 billion cash deal with affiliates of Apollo Global Management to become a private company.

Shares of the cloud-computing company climbed more than 4 percent following the announcement.

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