RACKSPACE BUYOUT ALERT - National Securities Law Firm Seeks Higher Price for Backspace Shareholders in Connection with Proposed Buyout, and Encourages Shareholders to Contact Law Firm for More Information
NEW YORK, August 26, 2016 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the potential sale of Backspace Holding, Inc. (NYSE: RAX) ("Rackspace" or the "Company") on behalf of its shareholders. Rackspace announced that it has entered into a merger agreement with the private equity firm Apollo Global for $32 per share.
Our investigation has determined that the offer price of only $32 per share, unfairly under-values the true going forward inherent value of Backspace and that shareholders may not be receiving the maximum value for their shares. The investigation further seeks to determine whether the Rackspace senior management is entering into this deal for its' own self-interests to the detriment of the Company's shareholders.
If you are a shareholder of Rackspace and would like additional information as to how the proposed acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us at no cost at:
Tripp Levy PLLC
New York, New York
Toll free: 800-511-7037
International: 602-241-2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and has assisted in the recovery of billions of dollars for shareholders in securities actions around the globe.
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