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Rackspace May Be for Sale as It Hires Morgan Stanley to Explore Options

Cloud services provider Rackspace may be exploring a sale. The company has hired Morgan Stanley and Co. to evaluate strategic options, according to Bloomberg News. Its shares rose by seven percent after the report. Rackspace has been a frequent target of takeover speculation. In February, its CEO, Lanham Napier, left the company suddenly.

This article originally appeared on Recode.net.