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Activist Firm Blue Harbour Discloses Rackspace Stake

Blue Harbour Group, an activist investor fund, said today it had bought stock in cloud computing company Rackspace amounting to about 6.4 percent of shares outstanding. The news boosted the Rackspace share price by more than two percent in after-hours trading. Rackspace has been exploring strategic options since May. Since then, no serious bidders have materialized.

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