The $16 per share cash offer represents a premium of over 24% to Cloudera’s last close on Friday, the company said in a regulatory filing. (https://bit.ly/2Tzxyun)
With an uptick in demand for cloud-based services since the pandemic last year, major cloud services providers including Amazon.com Inc, Alphabet Inc’s Google and Microsoft Corp have been pushing to provide products similar to ones offered by Cloudera.
Bloomberg Law reported in June that Cloudera has been exploring a sale after getting takeover interest.
Activist investor Carl Icahn holds about 17.8% of Cloudera’s total shares and is its largest investor, according to Refinitiv data.
Shares of Cloudera jumped more than 24% to $15.98 in premarket trading.
(Reporting by Chavi Mehta in Bengaluru; Editing by Maju Samuel)