February 3, 2023

Bobbys Brane

Bobbys Brane – Business & Tech Blog

Activist investor Elliott Management takes stake in Salesforce -WSJ By Reuters

1 min read


© Reuters. FILE PHOTO: A logo of Salesforce is seen at its exhibition space, at the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition center in Paris, France June 16, 2022. REUTERS/Benoit Tessier/File Photo

(Reuters) -Activist investor Elliott Management Corp has made a multi-billion dollar investment in cloud-based software firm Salesforce (NYSE:) Inc, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

Details of the deal were not available, the report said.

“We look forward to working constructively with Salesforce to realize the value befitting a company of its stature,” Jesse Cohn, managing partner at Elliott told the newspaper, adding that Elliott has followed Salesforce for nearly two decades.

Elliott Management Corp and Salesforce did not immediately respond to a Reuters request for comment.

Earlier this year Salesforce Inc said it plans to cut jobs by 10% and close some offices after rapid pandemic hiring left it with a bloated workforce amid an economic slowdown.