Published on 20 Jul 2021 on Zacks via Yahoo Finance

Salesforce's (CRM) $27.7B Slack Buyout Deal Nears Closure

Salesforce’s CRM deal to acquire the team collaboration tools and software maker, Slack Technologies WORK, just moved a step closer to completion after the Department of Justice (DoJ) dropped its antitrust probe into the transaction. In an 8-K filing with the Securities And Exchange Commission on Jul 19, the customer relationship management software maker revealed that the DoJ has informed both the companies regarding the closure of the investigation into the merger deal.

Notably, on Feb 16, the DoJ had sought for additional information and documents, which is referred as “second request,” related to their merger deal. Following the completion of the antitrust probe, Salesforce now anticipates to close Slack’s acquisition on or about Jul 21.

Salesforce and Slack had announced their entry into a definitive agreement on Dec 1, 2020, under which the former agreed to acquire the latter in a cash and stock transaction worth $27.7 billion.