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Apollo Global to buy Rackspace Hosting in $4.3 billion deal
Apollo Global to buy Rackspace Hosting in $4.3 billion deal ReutersStock Markets

(Reuters) - Apollo Global Management LLC (N:APO) said on Friday it would buy cloud services provider Rackspace Hosting Inc (N:RAX) in a deal valued at $4.3 billion, as the private-equity firm increases its investments in the technology sector. The $32 per-share-offer represents a premium of 6 percent to Rackspace's Thursday closing price.

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