Cloudera Agrees to $5.3 Billion Private-Equity Takeover Led

Cloudera Agrees to $5.3 Billion Private-Equity Takeover Led by KKR


Original:
Cloudera  (
CLDR) - Get Report shares surged higher Tuesday after a group of private-equity investors, led by KKR, agreed to a $5.3 billion takeover of the cloud computing and data analytics group.
Kohlberg Kravis Roberts & Co and Clayton Dubilier & Rice LLC said they will pay $16 a share in cash for Palo Alto, California-based Cloudera, a 24.4% premium to its Friday closing price, and expects the deal to close in the second half of 2021.
Cloudera had been the subject of a number of potential takeovers following pressure from activist investor Carl Icahn, who built an 18.4% stake in the group in 2019 and placed two affiliates -- Nicholas Graziano and Jesse Lynn -- appointed to Cloudera's expanded ten-person board in exchange for limiting is stake in the group to under 20%.

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