“The battle is joined!”
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 2 December 2020
⏱️ 27 minutes
🧾️ Download transcript
Summary
With a $27 billion acquisition of Slack, Salesforce sets its sights on Microsoft. Jim Gillies shares why Slack shareholders should be happy with the deal, and analyzes why Blackberry has been on a tear lately. Plus, we dip into the Fool Mailbag to discuss early morning trading hours and what negative equity means for investors.
Holiday music - “Snow” by Leslie Odom Jr.
Transcript
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| 0:00.0 | It's Wednesday, December 2nd. |
| 0:04.0 | Welcome to Market Fullry. |
| 0:05.0 | I'm Chris Hill with me today from the Great White North. |
| 0:08.0 | It's Jim Gillies. |
| 0:09.0 | Good to see you. |
| 0:10.0 | Good to be seen, Chris. |
| 0:11.0 | It is indeed the Great White North this morning and the last three days |
| 0:15.4 | I'm jealous that you have snow and I don't but that's you know you could have mine |
| 0:36.0 | We got a bunch of things to get to. We're going to talk about trading hours. We're going to talk about negative equity. We're going to talk about what in the world is going on with BlackBerry. But we got to start with the deal which is now done. Salesforce buying Slack in a deal worth more than $27 billion, which makes it one of the biggest deals ever in the software |
| 0:44.6 | industry as reported it's a cash and stock deal not quite 50-50 it seems like it's a |
| 0:51.3 | little bit more cash than stock. We can go in any number of |
| 0:57.0 | directions you want Jim but I I think the headline here is that for anyone who was wondering whether or not Salesforce as a |
| 1:06.3 | business and Mark Benny off as a CEO is gunning for Microsoft you don't have to wonder about that anymore. |
| 1:15.0 | You do not. He's his flag is rolled out. He is declared battle is joined and yes the deal is sales force is buying slack in a kind of a |
| 1:30.6 | denoument that we all kind of expected this deal has been rumored for a while. |
| 1:34.6 | It's $26.79 in cash and 0.0776 shares of Salesforce. |
| 1:44.4 | You get the cash plus that |
| 1:45.7 | per small number of shares of Salesforce |
| 1:47.5 | in exchange for every share, one share of Slack |
| 1:52.2 | that you own. So at the current price of Salesforce, which is about |
| 1:55.9 | as I was making my notes at about $220. That works out to about just over $44 a share for Slack. |
| 2:03.3 | Slack is trading at roughly 43, which is suggesting that the market doesn't really |
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