![]() Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world. “Considering the deal price and the presence of a robust competitor in the collaboration market in the form of Microsoft, we expect investors to be keyed in on the early success Salesforce has in driving Slack penetration within its existing customer accounts,” said Stifel analyst Tom Roderick who carries a “buy” rating with a US$295 price target for Salesforce stock. On the Closing Date, Slack notified The New York Stock Exchange that the First Merger had been completed, and requested that the NYSE (i) suspend trading of Slack's Class A common stock on the NYSE, (ii) withdraw Slack's Class A common stock from listing on the NYSE prior to the open of trading on the Closing Date and (iii) file with the SEC a. Salesforce, which published quarterly earnings on May 27, boosted its full-year outlook to an adjusted profit between US$3.79 and US$3.81 per share and forecast revenues in the range of US$25.90 billion and US$26.00 billion. Paid customer growth, the company stated, was up 39% to 169,000. Last month, Slack announced that its fiscal first quarter revenues rose 36% from last year to US$273.4 million, with billings rising 35% to US$278.5 million. Slack stated in a Securities and Exchange Commission filing that it expects the deal to close on July 21. The DOJ’s Antitrust Division opened a “second request” review into the deal earlier this year as the new administration of President Joe Biden vowed to take a closer look at big tech mergers. ![]() Slack shares edged higher in active trading Monday, July 19, after an antitrust probe into its US$27.7 billion takeover by Salesforce was dropped by the Department of Justice (DOJ).
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