Rackspace (NYSE: RAX) announced plans to go private in a buyout led by funds managed by affiliates of Apollo Global Management.
Under the deal, Rackspace will be acquired for $32.00 per share in cash, representing a premium of 38% compared to Rackspace's unaffected closing stock price on August 3, 2016, the last trading day prior to news reports speculating about a potential transaction. In connection with the transaction, funds managed by Searchlight...
