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Salesforce slumps 8.5% as its post-Slack selloff continues

Shares of Salesforce traded lower today, despite the company hosting a multi-hour keynote that included a buffet of Marc Benioff.
What’s going on? Essentially, since the Salesforce-Slack deal reached the ears of the public, shares of the CRM giant have fallen, while shares of the enterprise social upstart have risen sharply.
That Slack did well since news of the deal broke is not a surprise. Salesforce is paying more for the company than it had been worth, the premium to its prior value constituting its argument that Slack’s investors should approve the deal. This is standard in corporate takeovers.
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