What Elliott wants, it typically gets.
The big picture:
Salesforce is the world's largest software-as-a-service company, but has seen its stock price sink by around 50% since its November 2021 high-water mark. Recent challenges have included slowed growth, major layoffs and the departure of co-CEO Bret Taylor. Taylor is the second Salesforce co-CEO to leave, after not quite meshing with company founder Marc Benioff. He also was the driving force behind major Salesforce acquistions like Slack and Tableau, where cultural integration proved challenging.Elliott had yet to publicize details of its intentions, but managing partner Jesse Cohn did provide the following statement:
"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. We look forward to working constructively with Salesforce to realize the value befitting a company of its stature."There are just a few companies large enough to even attempt a takeover of Salesforce, and they'd all face severe antitrust scrutiny.
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