By ET Bureau - June 02, 2021 1 Mins Read
In a $5.3 billion seal, CD&R and KKR will buy Cloudera and turn it private. Existing shareholders will receive $16 per share in the all-cash transaction, according to the enterprise data cloud management company.
Cloudera’s board has authorized the transaction and advises shareholders to do so as well. The Icahn Group and affiliated shareholders, who collectively own nearly 18 percent of Cloudera common stock, have agreed to vote in favor of the deal.
Cloudera will become a private company as a result of the merger agreement. The transaction is scheduled to close in the second half of 2021, subject to regulatory approvals, including Cloudera shareholders’ and antitrust regulators’ approvals.
To Read More: ZDNet
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