SAP CEO welcomes Elliott as 'fantastic investor'

FILE PHOTO: SAP SE CEO Bill McDermott attends the company's annual results press conference in Walldorf, Germany, January 24, 2017. REUTERS/Ralph Orlowski - Copyright Ralph Orlowski(Reuters)

By Reuters

Published on 07/05/2019 - 18:34•Updated 23/04/2024 - 08:55

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(Reuters) - SAP CEO Bill McDermott on Tuesday welcomed a $1.3 billion (993.2 million pounds) investment by activist investor Elliott, saying it was aligned with his goal of expanding margins through driving top-line growth.

"They have been a fantastic investor. I am very proud they have chosen SAP," McDermott told reporters at SAP's annual U.S. user conference in Orlando.