Rackspace Hosting Hires Morgan Stanley to Seek Strategic Options and World Wrestling Entertainment Plunges on NBCUniversal Deal
Rackspace Hosting, Inc. (NYSE: RAX) climbed the most in 5 1/2 years, after it was revealed that the company has hired Morgan Stanley to seek strategic options that could include teaming up with bigger technology companies. The result could be a partnership or acquisition, though there is no timetable, Rackspace said in a statement. “Our board decided to hire Morgan Stanley to evaluate the inbound strategic proposals, and to explore any other alternatives which could advance Rackspace’s long-term strategy,” the company said in the statement. Rackspace Hosting, Inc., through its