Enterprise data management company Informatica has quashed rumors of being in acquisition talks with Salesforce. Informatica’s shares dropped over 7% on the news, while Salesforce’s rose around 1%. Salesforce had reportedly been discussing a bid in the mid-$30s per share. Negotiations reportedly broke down due to disagreement on terms. Informatica’s largest shareholders control over 75% of shares and would have had to approve any deal. Salesforce has faced criticism from activist investors for its aggressive acquisition strategy and has recently implemented layoffs and board changes.