Zendesk Shares Soar on Report of Potential Sale
2022.04.19 18:12
Zendesk (ZEN) Shares Soar on Report of Potential Sale
Zendesk (NYSE:ZEN) is reportedly considering a potential sale option after the company hired boutique investment bank and advisory firm Qatalyst Partners, according to Reuters.
The software maker turned down a $16 billion acquisition bid from a consortium of private equity firms in February. Furthermore, Zendesk’s investors also rejected the company’s bid to acquire Momentive Global in a deal that was valued at around $4 billion.
The rejection ended Zendesk’s merger agreement with Momentive Global after renowned investors bashed the deal, raising concerns about its rationale and potential risks.
Activist investment firm Jana Partners started a proxy fight against Zendesk, nominating four director candidates and saying that the software company has to be rehabilitated following its controversial attempt to acquire Momentive Global.
ZEN stock is up 6% today.
By Senad Karaahmetovic
