Salesforce Deal for Slack Expected to Be Announced Tuesday: Report

Shares of work messaging service Slack Technologies  (WORK) – Get Report jumped Monday morning following a report that a deal to acquire the company by Salesforce could be announced as soon as Tuesday after the market close. 

The deal is expected to be half cash and half stock, CNBC reported, and will price Slack at a premium to its current price. Slack shares rose 5.7% to $42.99 on the news with its previous closing price giving the company a $23.2 billion valuation. 

Salesforce is scheduled to release its quarterly earnings report on Tuesday.