Ubben's Inclusive bought 1.6 mln shares in Salesforce in Q4 -filing

Enviva

13/02/2023 23:33

NEW YORK, Feb 13 (Reuters) - Inclusive Capital Partners,
one of a handful of activist investors pushing for changes at
Salesforce, bought 1.6 million shares in the cloud-based
software company in the fourth quarter, a regulatory filing
shows.
    Jeff Ubben founded Inclusive Capital after leaving ValueAct
Capital and this is the fund's first investment in Salesforce.
ValueAct is also invested in Salesforce. Ubben's handpicked
successor at ValueAct, Mason Morfit, will soon join the
Salesforce board.
    Inclusive and ValueAct are both based in San Francisco as is
Salesforce. The investors have known Salesforce CEO Marc Benioff
for years and have spoken with him about changes. 
    The two firms are known for a more collaborative style in
pushing for change at the companies they invest with.
    Starboard Value and Elliott Management also approached
Salesforce with ideas on improving the business. Third Point is
also invested in the stock.
    Inclusive's biggest bet is on Enviva Inc where it owns 5.7
million shares and has been an investor for years. 
 (Reporting by Svea Herbst-Bayliss; Editing by Stephen Coates)
 ((svea.herbst@thomsonreuters.com; +617 856 4331; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))