How to handle Salesforce (CRM) acquisition of Slack (WORK)

Sharesight makes it easy for investors to handle corporate actions (even complicated mergers) and track the capital gains tax implications. The benefit of using Sharesight to track the SalesForce (CRM) acquisition of Slack (WORK) also ensures that you maintain an accurate record of your portfolio performance.

1 – Click on Slack, WORK on the Portfolio Overview Page, to go to the Individual Holding Page.

2 – Click ‘Enter a new Trade or Adjustment’.

3 - On the pop-up window, select ‘Return of Capital’ from the transaction type dropdown.

Based on the Investor Relations announcement, set the:

4 - ‘Paid On Date’ : July 21 2021

5 - ‘Date of trade’: July 21 2021

6 - ‘Capital Returns Value’: $26.79 x 0.0776 of Slack shares for SalesForce shares held on the Record Date

7 - ‘Comment’: SalesForce acquisition of Slack. Record date is 21 July 2021.

8 - Choose a file: to help keep your records in order, you can attach the Investor Relations Announcement Letter.

9 - Click ‘Save this trade’ button.

Example

If you owned 1000 shares of Slack as of the Record Date, the Capital Return Value: $26,790 = 1000 WORK shares x $26.79.

10 - On the Slack Individual Holding Page, click on ‘Holding Settings’ tab.

11 - Click on ‘Merge this holding’ button.

12 - On the Merge Holding pop-up window, set the ‘Date of Merge’ as 20 February 2019.

13 - Type SalesForce or CRM in the search field and select CRM:NYSE SalesForce from the dropdown list.

14 - Type in the ‘Quantity’ field: 0.0776 x Slack shares held on the Record Date (Slack shareholders receive 0.0776 SalesForce share for every Slack share)

Example If you owned 1000 Slack as of the record date, the quantity is 77.6 = 1000 x 0.0776 CRM shares.

15 - In the ‘Comments’ field, type a note for your reference of why this acquisition happened.

16 - Click ‘Save changes’.

The CRM Individual Holding Page will load with the merged shares added.

The Slack holdings will still appear on your Portfolio Overview Page when you have enabled the Open & Closed Positions setting (include sold holding).

The guide above is a suggestion on how to handle the corporate action in Sharesight and is not finance or tax advice. We advise you to consult your financial advisor or accountant. We also encourage you to review the official Documents for full details.

Last modified on December 18, 2022 UTC