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Salesforce May Be Up for Sale

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This story originally appeared on Fortune Magazine

.com stock was halted on Wednesday afternoon, following a Bloomberg report that the company "is working with financial advisers to help it field takeover offers after being approached by a potential acquirer." The cloud giant's shares had spiked 12% prior to the circuit breaker being tripped.

There were no details on the suitor's identity, although speculation is already running rampant that this could be the first game-changing move for since taking over last year as CEO of . Also worth remembering that, prior to being named CEO, Nadella led Microsoft's cloud .

Other possibilities include and , the latter of which today sold $10 billion of new bonds. Bloomberg also suggests SAP, although a source familiar with the situation says that it is not in the mix. An alternate outcome could be that Salesforce itself makes a major acquisition play, such as for WorkDay or Adobe.

Another source says that large software have always considered Salesforce to be "available" for a particularly high premium, but that an outstanding issue is where CEO would fall in a combined company's hierarchy. At Oracle, for example, would Benioff be expected to work under co-CEOs and Safra Catz, or perhaps take both of their jobs?

Salesforce has a market cap of more than $43 billion, with just around $2 billion of debt on its books.

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