Slack spikes 32% following reports of potential takeover by Salesforce

Richard Drew/Associated PressSlack CEO Stewart Butterfield poses for photos outside the New York Stock Exchange before his company’s IPO, Thursday, June 20, 2019.
  • Slack rocketed as much as 32% higher on Wednesday after Dow Jones reported Salesforce.com is in talks to acquire the workspace-communications company.
  • Such a deal would likely value Slack at more than the $US17 billion market cap it held before shares jumped.
  • There’s no guarantee the talks will lead to a takeover, and Salesforce could target another company for an acquisition, sources familiar with the matter told Dow Jones.
  • Salesforce shares slid as much as 4% on the news.
  • Watch Slack trade live here.

Slack leaped as much as 32% on Wednesday following reports of a potential acquisition by Salesforce.com.

The corporate-software company is in talks to buy Slack, Dow Jones reported Wednesday, citing people familiar with the matter. Such a deal would likely value Slack at more than the $US17 billion market cap it boasted before shares spiked higher. The acquisition would also be Salesforce’s largest yet.

Still, there’s no guarantee a deal will be reached, and Salesforce could target another company for a takeover, according to the report.


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The jump placed Slack shares at their highest since early June. The company made its market debut on June 20, 2019 with an opening price of $US38.50.

Salesforce shares fell as much as 4% on the news.

The stock traded at $US38.08 as of 11:55 a.m. ET, up 42% year-to-date. Slack has 14 “buy” ratings, 10 “hold” ratings, and three “sell” ratings from analysts.


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