Salesforce, activist investor Elliott may soon reach deal

Cloud-based software firm Salesforce Inc and activist investor Elliott Management Corp are in discussions to reach an agreement that may end a possible board challenge, according to two people familiar with the matter.

The battle at Salesforce has pitted Elliott as well as other activist investors against Marc Benioff, one of Silicon Valley’s most iconic chief executives. Salesforce’s growth has slowed dramatically in recent quarters and last month the company said it would cut 10% of jobs to address its performance.

Activists, which also include Jeff Ubben’s Inclusive Capital Partners and Jeff Smith’s Starboard Value, have been pushing for Salesforce to increase growth and margins, buy back more shares, and raised concerns about recent acquisitions.