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Evercore ISI Casts Doubt On Rumored Salesforce Acquisition By Oracle

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Evercore ISI Casts Doubt On Rumored Salesforce Acquisition By Oracle
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An acquisition of Salesforce.com, 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 Salesforce.com by Oracle "would be complicated" and "seriously doubtful."

Salesforce.com 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.

Latest Ratings for CRM

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Feb 2018JefferiesUpgradesHoldBuy
Nov 2017Roth CapitalDowngradesBuyNeutral
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Posted-In: Evercore ISI Kirk MaterneAnalyst Color Rumors Exclusives Analyst Ratings Best of Benzinga

 

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