MuleSoft shares surge more than 20% on Reuters report of Salesforce bid

Shares of MuleSoft Inc. jumped 20% after Reuters reported that Salesforce Inc. to buy the software company. The report, which cites people familiar with the matter, said that a deal could be announced this week at the earliest, though they said that nothing had been formally agreed upon yet. Salesforce shares are up 0.9% in Tuesday trading. MuleSoft went public a year ago, and shares had nearly doubled from their IPO price of $17 prior to the Reuters report. MuleSoft received venture funding from Salesforce. MuleSoft shares are now up 67% in the past 12 months, while Salesforce‘s stock is up 52% and the S&P 500 is up 14%.