Activist Elliott Takes Multibillion-Dollar Salesforce Stake

(Bloomberg) -- Hedge fund Elliott Investment Management has taken a substantial activist stake in Salesforce Inc., making its move after layoffs and a deep stock swoon at the

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India Is Stepping Up Elliott, which often pushes for strategic changes and seeks board representation, took a multibillion-dollar stake in the company, according to a person

familiar with the matter. The San Francisco company had a market capitalization of $151 billion at Friday’s close, down from a peak of more than $300 billion in

2021. “Salesforce is one of the preeminent software companies in the world, and having followed the company for nearly two decades, we have developed a deep respect for Marc

Benioff and what he has built,” said Jesse Cohn, managing partner at Elliott in a statement. “We look forward to working constructively with Salesforce to realize the value

befitting a company of its stature.”  Benioff is chairman and co-chief executive officer of Salesforce. Elliott’s statement didn’t disclose details of its investment, which

was first reported by The Wall Street Journal. Salesforce declined to comment.  Shares of Salesforce jumped as much as 4.1% in pre-market US trading Monday.  Paul

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