Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Buybacks have gotten a bad rap from both Republicans and Democrats. But stocks would be trading at a massive discount without them.Marketsread more
Microsoft shares have gained 133% since November 2015, outperforming a tech "basket of unicorns" over that stretch.Technologyread more
The president's state visit comes amid tensions with carmaker Toyota over potential auto tariffs. Trump has repeatedly threatened Japanese and European carmakers with tariffs.Traderead more
The IRS is about to release a new draft of Form W-4, which will more closely reflect the changes stemming from the Tax Cuts and Jobs Act. For workers, that means they'll need...Personal Financeread more
The Mega Millions jackpot has spilled over $400 million. It would be the ninth largest winning since the game began in 2002.Personal Financeread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
The biggest U.S. gasoline price surge in years is running out of steam just in time for the start of the summer driving season.Energyread more
When commercial real estate investor Manny Khoshbin spent $2.2 million on the fastest production car in the world, he had no idea it would very quickly also become the...Autosread more
Microsoft and Salesforce.com had significant talks earlier this spring about a purchase of Salesforce by Microsoft, according to a number of people familiar with the situation. While the two sides failed to reach a deal and have not re-engaged, the talks advanced to a level of detail that indicates they were serious.
Ultimately, the two companies remained far apart on a price, with Microsoft said to be willing to offer roughly $55 billion for the company, while its founder and CEO Marc Benioff is said to have kept raising his expectations to as high as $70 billion.
The deal envisioned Microsoft using a significant portion of its $95 billion cash pile to pay for Salesforce, but there was discussion of allowing Benioff to roll his 5.7 percent stake in Salesforce into Microsoft stock, while other shareholders would have gotten paid in cash. Benioff would have had a management role at Microsoft under the deal, according to people close to the talks.
Salesforce was engulfed in takeover rumors late last month when Bloomberg reported on an approach of an unnamed suitor that was not Microsoft, for the company. Bloomberg also reported earlier this month that Microsoft was evaluating a bid for Salesforce, but said no talks between the two companies were taking place. Both reports sent shares of Salesforce sharply higher.
The talks that did in fact take place between the two companies concluded by early May and are not expected to re-emerge anytime soon. In addition to a disparity in price expectations, Microsoft's CEO Satya Nadella, who has been in the job for only 18 months, was said to be somewhat reluctant to pull the trigger on a deal of such size and consequence for his company.
Still, a number of people close to the talks believed they had the momentum to have reached a deal, until price became a defining road block.
Salesforce, which has a leading position in customer relationship management software and cloud computing is thought to be a good fit for Microsoft, which is focused on gaining scale in those businesses.
A Microsoft spokesman declined to comment and a Salesforce spokesperson did not return phone calls.