Proactive Investors - Salesforce Inc (NYSE:CRM, ETR:FOO) has walked away from its takeover talks with data management firm Informatica as the two companies have been unable to agree on terms, according to reports from multiple publications including The Wall Street Journal and Bloomberg citing a person familiar with the matter.
According to the source, the two companies could not agree on price.
Salesforce had been negotiating a mid-30s price per share. When the acquisition was first reported earlier in April, Informatica’s shares traded at about $38.
If a deal had gone ahead, it would have been one of Salesforce’s biggest acquisitions, along with its nearly $28 billion acquisition of messaging app Slack Technologies.
Salesforce and Informatica both declined requests for comment.
Shares of Informatica fell on the news, trading down 4.9% at about $33 shortly after the stock market opened on Monday.
Salesforce traded. 2.8% higher at about $278.