Rackspace +2.6% AH; activist reportedly ups stake (updated)


The WSJ reports activist Blue Harbour Group has grown its stake in Rackspace (NYSE:RAX) to ~6.5% from the 2.5% it had at the end of Q2.  The paper adds Blue Harbour has "communicated" with the Web hosting/IaaS provider, which says it's still evaluating strategic options.

The report comes 4 days after Dan Loeb's Third Point LLC disclosed it had a 7.25M-share position (good for a 5% stake) at the end of Q2.

Update: Blue Harbour has filed a new 13D disclosing a 6.4% stake.

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