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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Mario Gabelli Comments on Rackspace Hosting Inc.

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January 31, 2017 | About:
Rackspace Hosting Inc. (NYSE:RAX) is a San Antonio, Texas based information technology company. Rackspace specializes in cloud computing technology and storage. On August 26, 2016 Apollo Global with Searchlight Capital made a $32 cash per share offer for the company. The merger valued RAX at $4.3 billion and was subject to traditional regulatory approval and a shareholder vote. The deal closed on November 3, 2016 and the Fund earned a 10.72% annualized return.

From Mario Gabelli (Trades, Portfolio)'s ABC Fund fourth quarter 2016 commentary.

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Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

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