Shares of Informatica (NYSE: INFA) sank on Monday after the company confirmed that Salesforce won't be acquiring it. As of 1:30 p.m. ET, Informatica stock was down about 9%.

Informatica stock took a hit earlier in the month after an article from The Wall Street Journal said that Salesforce was looking to acquire the cloud-based data management company for less than its stock price at the time. However, Informatica released a statement today saying that it's "not engaged in acquisition discussions."

Informatica says it's not involved in talks to be acquired, at least not right now. One would intuitively think this would reverse its drop from earlier in the month when the rumor first came out.

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Source Fool.com