Salesforce Shares Pop on Rumors Microsoft May Be a Bidder

Salesforce (CRM) shares popped on rumors that Microsoft (MSFT) is mulling a bid for the cloud computing company. Bloomberg reported that Microsoft swooped in to potentially make a bid for Salesforce after reports last week that the company had hired investment advisors to help it navigate an offer from a unnamed company. Salesforce is said to be worth somewhere around $48 billion dollars, which would make it the largest software buyout in history. Microsoft has had its own rival customer relations cloud product called Microsoft Dynamics CRM. The two companies had been rivals in the past as well.