Joseph K
Salesforce under siege from top activist hedge fund
Software giant Salesforce (CRM), one of the 30 stocks in the venerable Dow Jones Industrial Average, had a miserable 2022. Now the company is under attack from a big hedge fund that wants to shake things up at the company that owns Slack.
Elliott Management, a firm that has taken activist stakes in Pinterest (PINS), PayPal (PYPL), Twitter (before Elon Musk acquired it) and former CNN owner AT&T (T) over the past few years, is now targeting Salesforce. Shares of Salesforce rose more than 4% on the news in early trading Monday.
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