December 01, 2020 | Technology | North America | Ended

Slack Technologies / New Deal Insights

On 1-Dec-20,, a leader in cloud-based customer relationship management (CRM) platforms, confirmed its acquisition of Slack Technologies for $27.7bn. Slack shareholders are being offered $26.79 in cash and 0.0776 in Salesforce common stock, subject to a cash limitation mechanism. The offer represents a 59% premium to Slack’s undisturbed share price on 24-Nov-20, before the Wall Street Journal reported that the parties were in advanced discussions. The deal is conditional on a majority of Slack shareholders voting in favour, not Salesforce’s, as well as requisite regulatory approvals, including HSR clearance. The parties are expected to file a notification with the FTC within 15 business days from the date of the merger agreement. The DMA contains provisions on ... Deal risks assessed in this research report: Antitrust scrutiny in the US, Europe, possibly China; hedging complications due to limit on cash consideration payable.

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