Elliott Management Corp., an activist investor, has made a substantial investment in software giant Salesforce Inc.
(Bloomberg) — Elliott Management Corp., an activist investor, has made a substantial investment in software giant Salesforce Inc.
Elliott, which often pushes for strategic changes and seeks board representation, has taken a multibillion-dollar stake in the company, according to a person familiar with the matter.
“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,” said Jesse Cohn, managing partner at Elliott in a statement.
Benioff is chairman and co-chief executive officer of Salesforce. Elliott didn’t disclose details of its investment in the statement.
The Wall Street Journal reported the move earlier.
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.