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Slack's Stock Spikes On Salesforce M&A Report

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Slack's Stock Spikes On Salesforce M&A Report

Slack Technologies (NYSE: WORK) shares spiked higher on Wednesday after a report emerged that Salesforce.com (NYSE: CRM) is in talks to acquire the company.

What Happened: Salesforce has recently been in talks to buy Slack, according to Dow Jones, and the deal that would mark a big move by the corporate-software maker into office communications.

Why It Matters: If the acquisition goes ahead this would be Salesforce's largest acquisition ever. Slack's current market capitalization is estimated to be at $16.876 billion.

Price Action: Slack shares were trading up 22.18% at $36.14 at the time of publication. The stock has a 52-week high of $40.07 and a 52-week low of $15.10.

Related Links:

Josh Brown Predicts Year-End Market Melt-Up, Bets On Reopening Stocks

Slack Reports Q2 Sales Beat, Paid Customer Growth Up 30%

 

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