Microsoft Corp. is evaluating a bid for Salesforce.com Inc., after the cloud software provider was approached by another would-be buyer, people with knowledge of the matter said.

Salesforce, which has a market value of almost $50 billion, is working with two investment banks to determine a response to approaches, two of the people said. The San Francisco-based company’s options could include rebuffing any buyer, or working out a sale, people with knowledge of the matter told Bloomberg last week.

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