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Evercore ISI Casts Doubt On Rumored Salesforce Acquisition By Oracle

Evercore ISI Casts Doubt On Rumored Salesforce Acquisition By Oracle
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An acquisition of, Inc. (NYSE: CRM) by Oracle Corporation (NYSE: ORCL) is an old and extremely unlikely rumor, an analyst told Benzinga Thursday.

The unsourced rumor surfaced most recently via a StockTwits comment by the anonymous "Open Outcrier."

But Evercore ISI's Kirk Materne told Benzinga that an acquisition of by Oracle "would be complicated" and "seriously doubtful." traded recently up nearly 2 percent at $68.97.

Materne said speculation regarding a tie-up of the two companies has surfaced periodically for a decade.

Salesforce Chief Executive Marc R. Benioff has had a number of past personal feuds with Oracle's chairman Lawrence J. Ellison.

Oracle's Chief Executive Mark earlier on Thursday called Salesforce's current valuation "absurd."

"What are they worth right now? $35 billion? Who cares? It's absurd. But they're quote-unquote, ‘cool.'" Hurd said, according to a report by American Cities Business Journals.

Also Thursday, Salesforce launched a new line of products tied to its human resources management services business segment.

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Oct 2016RosenblattInitiates Coverage OnBuy
Oct 2016DA DavidsonMaintainsNeutral
Sep 2016CitigroupMaintainsBuy

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