If Salesforce sells Slack, it could get half the $28 billion it paid

Under siege from fearsome activist investors

When we say Benioff has multiple activist investors circling, we mean he's practically under siege. Salesforcethat it's already granted one activist a board seat: Mason Morfit, CEO and Chief Investment Officer of ValueAct Capital. Morfit famously took a board seat at Microsoft in 2014 after ValueAct took a stake in the company and, consequently, CEO Steve Ballmer resigned.

Then there's Jeff Ubben's Inclusive Capital, which also has a Salesforce position, and Ubben has been chatting with Benioff,Ubben was previously at ValueAct and was deeply and successfully involved in the Microsoft situation. He left in 2020 for his new firm. Ubben owns more than 1.5 million shares in Salesforce, a source told CNBC.

Meanwhile, the fearsome Elliott Management is reportedly doing more than just circling. It's taken a multi-billion stake in Salesforce, a source said, and the firm told Insider that it will be looking for changes that increase the company's value. It's reportedly lining up its own slate of board members for the nomination period that opens in February,All of this follows the involvement of Starboard Value, which disclosed a significant stake in October.

In addition to putting Morfit on the board, Salesforce is also adding former Carnival Corporation CEO Arnold Donald, and Mastercard CFO Sachin Mehra, while two other board members, Sanford Robertson and Alan Hassenfeld, are stepping down. Another board member, co-CEO Bret Taylor, announced last month that he was leaving the company as well.

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