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

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  • 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.
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