Rackspace Said Better Off Selling Than Going Private

By | July 2, 2014

Scalper1 News

While Rackspace Hosting (RAX) reportedly is mulling going private, many investors continue to hope for a buyout, according to an analyst. Rackspace stock jumped 8% in midday trading Wednesday on a report early Wednesday from TechCrunch that Rackspace is considering going private after reviewing takeover bids from IBM (IBM) and Hewlett-Packard (HPQ). TechCrunch reported that the HP bid was for $43 a share. Rackspace is trading near 36.50 in the Scalper1 News

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