SAN FRANCISCO (S&P Global Ratings) Dec. 1, 2020--S&P Global Ratings today said its ratings on San Francisco, Calif.-based Salesforce.com Inc. are unchanged following the company's announcement that it will acquire collaboration software provider Slack Technologies for $27.7 billion. Salesforce.com will fund the transaction with a mix of equity and cash, the latter which we expect will consist of $10 billion of debt and the remainder from balance sheet cash (likely about $7 billion). The company expects the transaction to close by mid-2021 following the required regulatory approvals. We believe the transaction will raise Salesforce.com's adjusted leverage from zero to the 1x area upon close, well below our downgrade trigger of 2x. However, its funded debt could rise to nearly $13
