Tibco Software (TIBX) Surges on Reports of SAP (SAP) Takeover Bid

August 10, 2009 8:58 AM EDT

Shares of Tibco Software Inc. (Nasdaq: TIBX) are surging 20% in pre-open trading on reports from overseas SAP AG (NYSE: SAP) is in talks to acquire the company. Newspaper Euro am Sonntag reported the story.

The newspaper said while the talks are "well advanced", the outcomes remains open.

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