RTTNews | Jun 1, 2021 07:54AM EDT

07:53 Tuesday, June 1, 2021 (RTTNews.com) - Shares of Cloudera (CLDR), an enterprise data cloud company, are up more than 24% in pre-market on Tuesday after the company announced its decision to go private by being acquired by affiliates of Clayton, Dubilier & Rice and KKR in an all cash deal valued at about $5.3 billion.

Cloudera shareholders will receive $16 per share, a 24% premium to the closing price as of May 28, and a 30% premium to the 30-day volume weighted average share price.

"We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity," said Rob Bearden, CEO of Cloudera.

The transaction is expected to close in the second half of 2021.

CLDR closed Friday's trade at $12.86. The stock is currently at $15.95.

Read the original article on RTTNews ( https://www.rttnews.com/3198957/stock-alert-cloudera-jumps-24-as-co-to-be-taken-private.aspx)

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