Microsoft buyout buzz propels Adobe stock |
| Economic Times - Oct 8, 2010 |
Adobe Systems shares surged 12% after a New York Times report fuelled speculation that Microsoft may work more closely with the company or possibly acquire it.
Microsoft chief executive officer Steve Ballmer recently met with Adobe CEO Shantanu Narayen to discuss closer collaboration, the Times said. Two people familiar with the matter confirmed that the meeting took place at Adobe’s offices in San Francisco . They asked not to be identified because the meeting was private. “No comment,” Ballmer said on Friday at a conference in Madrid. He added jokingly that “if you are going to do something, you say nothing. So I will be entirely consistent with standard CEO operating procedure” .
Buying Adobe would furnish Microsoft with the company’s popular Flash software development tools, as well as mobile- phone features. Still, a deal would be hard to execute because of Adobe’s $15.1-billion market value and regulatory concerns, said Brent Thill, an analyst at UBS AG in San Francisco.
Read Full Article from Economic Times
- Posted: 2010-10-08 20:33:44
| More Stock Investor Place Top Stories |
 |
|
|
|
| Stock Investor Place Top Stories Archive |
|
|
|
