> $32 per-share-offer represents a premium of 6 percent to Rackspace's Thursday closing price.

Quite a fall from almost $80 in 2013.

I was a satisfied Rackspace customer back around 2001 when I had a web hosting business, but it was truly a premium service - very expensive compared to competitors. We ended up going with our own bare metal eventually. Then, when everything moved to the cloud, Rackspace seemed a little behind the times and Heroku and AWS got my business.