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Report: Salesforce interested in fielding takeover discussions

Is Oracle interested in acquiring Salesforce?

By Michael Hatamoto from Apr 29, 2015 @ 21:10 CDT

Cloud specialist Salesforce has been approached by at least one potential acquirer, and is now discussing the matter with advisers, according to a report published by Bloomberg. It seems like Oracle, led by Chairman Larry Ellison, may want to bring Salesforce CEO Marc Benioff back onboard.

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News of a possible takeover helped boost Salesforce's shares up to $78.46, a 17.3 percent spike, during trading on Wednesday. Shares closed at $74.65, up 11.6 percent, with the company initially valued at close to $49 billion.

As for possible suitors, it seems Oracle is the front runner and most "realistic buyer," according to Daniel Ives, analyst at FBR & Co., in a research memo. "Oracle is desperate to establish itself as a leader in the cloud, and acquiring the leading cloud company and bringing on board a visionary leader in Marc Benioff would help toward accomplishing this goal."

NEWS SOURCES:Bloomberg.com, Fm.cnbc.com

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