Adobe (ADBE) Surges, Triggers Circuit Breaker On Microsoft (MSFT) Takeover Speculation
Tweet
Share
E-mail
Get Alerts ADBE Hot Sheet
Join SI Premium – FREE
Shares of Adobe (Nasdaq: ADBE) surged in afternoon action on speculation Microsoft (Nasdaq: MSFT) could be targeting the company in a takeover following a secret meeting between the chiefs of both companies.
Trading in shares of Adobe were briefly halted after a circuit breaker was tripped. After resuming from the halt, shares settled in to an 8 percent upswing.
Microsoft CEO Steven Ballmer and other executives showed up at Adobe's offices in San Francisco to hold a meeting with Adobe's chief executive, Shantanu Narayen, the New York Times reported today.
The meeting lasted about an hour and covered a host of topics, including Apple's (Nasdaq: AAPL) dominance in the mobile market.
Talks about how the two could work together to better battle Apple and a possible acquisition of Adobe by Microsoft were some options discussed, the reported stated.
Trading in shares of Adobe were briefly halted after a circuit breaker was tripped. After resuming from the halt, shares settled in to an 8 percent upswing.
Microsoft CEO Steven Ballmer and other executives showed up at Adobe's offices in San Francisco to hold a meeting with Adobe's chief executive, Shantanu Narayen, the New York Times reported today.
The meeting lasted about an hour and covered a host of topics, including Apple's (Nasdaq: AAPL) dominance in the mobile market.
Talks about how the two could work together to better battle Apple and a possible acquisition of Adobe by Microsoft were some options discussed, the reported stated.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Stripe, Advent In Talks To Buy Paypal - WSJ
- OpenAI Buys Back $7 Billion Of Employee Shares In Tender Offer - Bloomberg
- Paramount Discussed Creating Editorial Board for CNN - WSJ
Create E-mail Alert Related Categories
Insiders' Blog, RumorsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
