Workday stock jumps on reported progress in buyout financing

Workday shares jumped on 18 September after CNBC journalist David Faber reported that financing talks for a potential take-private deal continue to advance.

Citing people familiar with the matter, Faber reported hearing more optimism that a transaction could happen. Teams are currently assembling financing packages and raising equity in a meaningful way to back the purchase.

The development follows earlier takeover speculation. On 13 August, Workday shares jumped 18% after Reuters reported that private equity firm Silver Lake was in talks to acquire the company. Silver Lake could bring in additional investors to fund an acquisition of Workday's size.

While Faber had warned last month that financing might prove difficult to secure, his latest report points to commitments coming together. No formal deal has been announced, and talks rely on unidentified sources.