Salesforce.com share price climbs on Microsoft takeover reports

Shares in Salesforce.com jumped 6.2 per cent yesterday, after it was reported that Microsoft is considering a bid for the cloud software provider.

 

Salesforce shares rose from $71.4 to $75.82 after which trading was temporarily halted.

 

Microsoft is evaluating a bid after Salesforce was approached by another potential buyer, Bloomberg reported, citing people with knowledge of the matter.

 

Microsoft is not in talks with Salesforce, and no deal is imminent, the report said.

 

Microsoft and Salesforce.com both declined to comment. 

 

In 2014, Heron International agreed a deal with Salesforce.com to change the name of 110 Bishopsgate from the Heron Tower to the Salesforce Tower.

 

Bloomberg had reported last week that Salesforce was working with financial advisers to help it field takeover offers after being approached by a potential buyer. The news sent the company's shares up as much as 17.3 per cent to an all-time high of $78.46 last Wednesday.