Why This Splunk Shareholder Hopes It Doesn't Sell to Cisco
IT systems management, cybersecurity, and observability company Splunk (NASDAQ: SPLK) surged more than 11% late Friday, after The Wall Street Journal reported tech giant Cisco Systems (NASDAQ: CSCO) had made an offer to buy the company for more than $20 billion.
It's obviously a nice thing when someone is interested in your stock, but as a recent Splunk shareholder, I'm hoping the company doesn't sell, if the offer is in fact close to $20 billion. Splunk finished trading on Friday at roughly an $18 billion market cap, and after the after-hours surge, the market cap rose to $20.2 billion.
At this price, it appears Cisco would be getting a steal, unless the price winds up being a lot higher than the $20 billion reported.
Source Fool.com