Cloudera’s stock soars after deal to be bought for 24.4% premium by CD&R, KKR

Shares of Cloudera Inc. soared 24.4% in premarket trading Tuesday, after the data management and analytics software company disclosed a deal to be acquired for $16 a share in cash by funds advised by Clayton, Dubilier & Rice LLC and Kohlberg Kravis Roberts & Co. L.P. The per-share bid represents a 24.4% premium to Friday’s closing price of $12.86, and with 291.4 million shares outstanding, would value Cloudera at about $4.7 billion. Cloudera said the deal is expected to close in the second half of 2021. The Wall Street Journal had reported on Monday that a deal for Cloudera to be acquired by CD&R and KKR was near. Cloudera’s stock has lost 7.6% year to date through Friday, while the S&P 500 has gained 11.9%.

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