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Why Cloudera Stock Soared Today

TheMotleyFool

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Why Cloudera Stock Soared TodayPhoto, wide shot, wide-angle lens, Bank, sunset photo at golden hour, photo by Art Wolfe: https://img.theapi.app/temp/3aa597ca-f944-4a9b-bf8d-3071f3b5a5c9.png

Shares of Cloudera (NYSE: CLDR) surged 24% on Tuesday after the data analytics provider said it reached a deal to be acquired for $5.3 billion.

Private equity firms KKR (NYSE: KKR) and Clayton, Dubilier & Rice agreed to purchase Cloudera for $16 per share, a 24% premium to the stock's closing price on Friday. The all-cash transaction is expected to be completed in the second half of 2021, though it does include a 30-day "go-shop" period, during which Cloudera can solicit competing bids.

Image source: Getty Images.

Source Fool.com

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