salesforce.com (CRM) Takeover of Twitter (TWTR) 'Extremely Risky' - Evercore ISI
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Everecore ISI is out cautious on salesforce.com (NYSE: CRM) amid today's rumor it is interested in buying Twitter (NYSE: TWTR). Analyst Kirk Materne said this is a 'bridge too far' for the company and the company should put the rumors to bed.
Materne commented, "Twitter would be an extremely risky deal and while we are sure that Salesforce would have a thoughtful justification of buying Twitter that would likely include the synergies with the Marketing Cloud along with its data set, we believe that the aforementioned risks outweigh the potential benefits. The concerns about this deal have been bubbling beneath the surface for the past six weeks, and in our view, if the company is not heading down this path (and we fervently hope that they are not), management needs to come out and say that as rumors of this nature also start to have an impact on fundamentals as employees are distracted and competitors will use stories like this to create doubt in the minds of buyers. Our view: let's hope CRM doesn't jump off this bridge."
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