Just read about Salesforce takeover of Slack for $27.7bn (54% premium and 26x sales NTM), and the subsequent reaction of Salesforce stock -10%

Salesforce is trying to compete with Microsoft, which offers teams bundled with O365 for free, however, the PF rev is only 40% of the MSFT commercial cloud business

The price seems exaggerated, but given the massive potential synergies + impressive unit economics of slack, why has the market reacted so poorly?

Was it a bold move from Salesforce?

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