NEW YORK (TheStreet) -- Shares of Salesforce.com (CRM) - Get Report closed lower on Thursday after the company said it will urge regulators to look into Microsoft's (MSFT) takeover of LinkedIn, the New York Times reports, citing sources.
Salesforce.com, a cloud solutions provider, lost out in a bidding war for the social networking site in June after Microsoft offered LinkedIn $26.2 billion.
"Microsoft's proposed acquisition of LinkedIn threatens the future of innovation and competition," Salesforce.com's Chief Legal Officer Burke Norton said, the Times reports.
Salesforce.com, based in San Francisco, plans to notify European antitrust regulators of its concerns about the deal, sources told the Times.
Microsoft and LinkedIn's merger has already been approved by U.S. regulators but has not been submitted for EU approval. The companies expect the deal to close by year's end.
Recently, TheStreet Ratings objectively rated Salesforce.com stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including premium valuation, weak operating cash flow and relatively poor performance when compared with the S&P 500 during the past year.
You can view the full analysis from the report here: CRM