Stock Market News
Light Street Capital to vote against Zendesk $10.2 billion go-private deal
2022.08.29 16:41
FILE PHOTO: Zendesk logo is seen in this illustration taken June 27, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) – Zendesk (NYSE:ZEN) Inc’s investor Light Street Capital Management said on Monday it will vote against the company’s $10.2 billion deal with Hellman & Friedman and Permira to go private.
Light Street, which manages funds that own more than 2% of the outstanding shares of Zendesk, said the deal undervalues the company and is detrimental to shareholder interest.
Zendesk, which struck the deal in June, did not immediately respond to a Reuters request for comment.
