Third Point becomes latest activist investor to take stake in Salesforce
Publishing timestamp: 2023-02-09 14:05:30
Summary
Dan Loeb's hedge fund Third Point has built a position in Salesforce, joining ValueAct Capital, Elliott Management, and Starboard Value who have also disclosed positions in recent months. Salesforce has faced high-profile departures and slowing revenue growth of late, and has been criticized for buying companies at high multiples. ValueAct's Morfit said he looks forward to helping Salesforce deliver profitable growth and shareholder returns. Wall Street Journal reported on Third Point's investment on Wednesday. Last year, Third Point took a stake in Disney, and it later reached a deal with the media company that included adding a former Meta executive to its board of directors.
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Keywords: walt disney co, business, technology, salesforce inc, business news, enterprise, intel corp, breaking news: technology, meta platforms inc,