KKR, CD&R To Acquire Cloudera At $5.3B Valuation

  • KKR & Co Inc KKR and Clayton Dubilier & Rice LLC (CD&R) confirmed an agreement to acquire Cloudera Inc CLDR in an all-cash transaction valued at $5.3 billion.
  • Cloudera will become a private company under the arrangement.
  • KKR and CD&R will acquire Cloudera at $16 a share, signifying a 24% premium to its May 28 closing price of $12.86.
  • Cloudera’s largest shareholder, Carl Icahn, had explored a potential sale since mid-2020 after receiving takeover interest based on Bloomberg reports.
  • Cloudera was an early player in the open-source software framework Hadoop, the Wall Street Journal reports. However, it struggled to shift to the now-dominant public cloud, where it faces competition from the likes of Amazon.com Inc’s AMZN Amazon Web Services.
  • Price action: CLDR shares traded higher by 23.7% at $15.91 in the premarket session on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Posted In: M&ANewsTechMediaBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!