Informatica says it's not for sale, following Salesforce's reported interest in $10 billion deal [CNBC]
Informatica Inc. (INFA)
Company Research
Source: CNBC
Informatica shares slumped more than 7% on the news, while Salesforce shares rose around 1%. The acquisition would have been Salesforce's largest since the 2021 deal to purchase Slack. The negotiations broke down after the two sides could not agree on terms, The Wall Street Journal previously reported. Salesforce had been discussing a bid in the mid-$30s per share, people familiar with the matter told the Journal. “Our business fundamentals continue to be very strong and we look forward to discussing our first quarter financial results and outlook on May 1,” Informatica CEO Amit Walia said in a statement. Informatica's two largest shareholders, Canada's Pension Plan and private equity firm Permira, control more than 75% of outstanding shares and would have had to bless any deal. Salesforce's investors also reacted negatively to the idea of the deal, sending shares down more than 7% when news of the potential purchase first broke. Salesforce CEO Marc Benioff's voracious appeti
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- 4/26/24 - Form DEF
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