Workday Jumps 18% on Silver Lake Buyout Talks, Lifting Value Near $51 Billion
Updated
Updated · CNBC · Aug 13
Workday Jumps 18% on Silver Lake Buyout Talks, Lifting Value Near $51 Billion
3 articles · Updated · CNBC · Aug 13
Summary
Workday closed up nearly 18%—its best day since 2016—after a Reuters report said Silver Lake has been in acquisition talks with the HR software maker for months.
Multiple trading halts hit late-afternoon trading as the rally pushed Workday's market value to nearly $51 billion, though neither company immediately commented.
The talks come after AI-driven worries battered software stocks and left Workday shares down 7% over the past year, making a potential deal a test of private-equity appetite for the sector.
Workday has recently tried to steady sentiment: co-founder Aneel Bhusri returned as CEO in March, and the company in May beat expectations and raised its outlook on AI tailwinds.