|Day's range||5.10 - 5.10|
(Bloomberg) -- Salesforce Inc. averted a potential proxy fight with activist investor Elliott Investment Management after its stock rose and the enterprise software company made a series of strategic changes.Most Read from BloombergBinance and Its CEO Sued by CFTC Over US Regulatory ViolationsSaudi National Bank Chair Resigns After Credit Suisse RemarkSchwab’s $7 Trillion Empire Built on Low Rates Is Showing CracksFBI Releases Files on Ivana TrumpElliott won’t proceed with its planned director n
Salesforce Inc and Elliott Management on Monday reached an agreement where the activist investor ends its board room challenge as the software company focuses more on boosting profits and efficiency. The announcement made by both sides comes less than a month after Elliott nominated a slate of director candidates and Salesforce reported stronger than expected financial results and made promises for more cost cuts. "Elliott decided not to proceed with director nominations, and Salesforce and Elliott committed to continue the productive working relationship they have developed together," the two said in a joint statement.
SAN FRANCISCO, March 27, 2023--Salesforce and Elliott Issue Joint Statement