Elliot ditches plans for Salesforce proxy battle

Activist hedge fund Elliot Investment Management has decided not to proceed with its planned director nominations at Salesforce Inc, after a rise in the company's stock price and the initiation of a series of strategic changes at the enterprise software firm, according to a report by Bloomberg.

In a joint statement issued on Monday, the companies said that Elliot's decision was prompted by Salesforce's "strong" 2023 fiscal year report and "clear focus on value reaction”.

https://www.hedgeweek.com/2023/03/28/320002/elliot-ditches-plans-salesforce-proxy-battle