Netflix shares soar on Microsoft buyout rumor - CBS News
Netflix (NFLX)
shares closed trading today up 13 percent, less than a week after the
company disappointed Wall Street with a lackluster third-quarter
performance.
Anyone looking earlier for news to explain what might be driving the spike would have been disappointed. But Forbes is now reporting that an unconfirmed rumor was behind the run. According to the magazine, word spread on Wall Street that Microsoft (MSFT)
was trying to acquire Netflix. CNET also heard these rumors and saw an
e-mail from a Wall Street banking firm that showed one rumor circulating
indicated Microsoft was offering $90 per share for Netflix.
A Microsoft spokesman declined to comment on rumor and speculation.
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