Yahoo Finance Salesforce Talks with Informatica Cool Over Price
(Bloomberg) -- Informatica Inc. said it’s not engaged in takeover talks following reports that discussions with Salesforce Inc. had cooled.
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“Although Informatica’s policy is not to comment on market rumors or media speculation, the company announced that it is not currently engaged in any discussions to be acquired,” Informatica said in a statement Monday. A representatives for Salesforce declined to comment.
Salesforce’s takeover talks with Informatica cooled with both parties struggling to agree to terms, according to a person familiar with the matter. Software giant Salesforce and data management company Informatica had been unable to agree on price, the person said, asking not to be identified discussing confidential information.
The Wall Street Journal reported earlier on Sunday that talks over a deal were fizzling.
Informatica fell 9.5% to $31.85 at 9:35 a.m. in New York trading while Salesforce rose 2.7% to $277.55.
The deal would have ranked among the largest ever by Salesforce, topped only by its 2021 takeover of the business communications platform Slack Technologies for more than $27 billion and its over $15 billion purchase of Tableau Software in 2019.
--With assistance from Ryan Gould and Subrat Patnaik.
(Updates with comment from Informatica in third paragraph)
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