Salesforce slack acquisition5/27/2023 In other companies, Elliott has pushed for CEOs to step down. The activist firm had put forward a slate of board directors in the open nomination window for the annual shareholder meeting, which usually is scheduled around June, suggesting the possibility of a proxy fight. ![]() Monday’s announcement without public concessions to the activist, like a board seat, is a win for Salesforce against Elliott, which took a multibillion-dollar stake in the software maker in January. ![]() Read More: Salesforce Finds Profit Is New Magic Word for Activist Investors They were little changed in New York at $190.29. Shares have rallied 43% this year, among the largest jumps of companies in the S&P 500. Still, investors rejoiced earlier this month after the company trounced profit forecast estimates, doubled stock buyback plans and signaled it was putting its large acquisition strategy on ice. Revenue growth has slowed after a half-decade of steady hiring and large acquisitions, and the San Francisco-based company has been buffeted by executive changes including resignations of heir-apparent Bret Taylor and Slack co-founder Stewart Butterfield. Salesforce Chief Executive Officer Marc Benioff has been grappling with a growing number of activist hedge funds agitating for higher profits. Scotiabank Economist Excoriates Trudeau, Freeland Over $32 Billion Spending BoostĮlliott won’t proceed with its planned director nominations following Salesforce’s “strong” 2023 fiscal year report, transformation initiatives and “clear focus on value reaction,” the companies said in a joint statement on Monday. $335,000 Pay for ‘AI Whisperer’ Jobs Appears in Red-Hot Market New Yorkers Are Moving to These Three Florida Cities $52 Billion Chipmaking Plan Is Racing Toward Failure ![]() averted a potential proxy fight with activist investor Elliott Investment Management after its stock rose and the enterprise software company made a series of strategic changes.
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