CLDR - Cloudera Is Going Private in $5.3 Billion Deal Led by KKR
Four years after its initial public offering, data analytics firm Cloudera (NYSE: CLDR) is going private in a $5.3 billion takeover led by private equity firm KKR (NYSE: KKR) .
The stock, which closed Friday at $12.86 per share, is below its IPO price of $15 as it has struggled to compete against larger, better financed rivals such as the web services business of Amazon and Microsoft 's Azure.
Cloudera was in the midst of a multiyear turnaround but faced pressure from billionaire investor Carl Icahn, who owns over 18% of Cloudera stock and has two seats on the board of directors.
For further details see:
Cloudera Is Going Private in $5.3 Billion Deal Led by KKR