Stock Market News

Zendesk Surges as Sale to P/E Group Said Back On

2022.06.24 13:40

Zendesk Surges as Sale to P/E Group Said Back On
Zendesk (ZEN) Surges as Sale to P/E Group Said Back On

By Investing.com Staff

Zendesk (NYSE:ZEN) shares surged 50% in pre-open trading Friday following reports from the Wall Street Journal that a sale of the company to private equity firms is back on the table and close. The news comes just weeks after the company terminated a sale attempt as talks fell apart.

A private equity group that includes Hellman & Friedman LLC and Permira is now close to a deal to acquire the company and an agreement could be announced in the coming days, the report added.

While a price could not be learned, in February, Zendesk rejected an up to $16 billion acquisition offer from an unnamed private equity consortium. As of yesterday’s closing price, the market cap was around $7 billion.

The company has been the target of activist investors, including JANA Partners, and also in February shareholders voted down Zendesk’s deal to acquire SurveyMonkey parent Momentive Global (NASDAQ:MNTV).

JANA has been seeking to elect four independent directors to the board and has said absent a significant boardroom change to restore Zendesk’s credibility, the Company must be sold. It looks like JANA may finally have its wish.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 76,197.42 1.80%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,922.01 3.62%
tether
Tether (USDT) $ 1.00 0.08%
solana
Solana (SOL) $ 204.18 8.88%
bnb
BNB (BNB) $ 598.25 0.60%
usd-coin
USDC (USDC) $ 1.00 0.00%
xrp
XRP (XRP) $ 0.551294 0.14%
dogecoin
Dogecoin (DOGE) $ 0.197573 2.75%
staked-ether
Lido Staked Ether (STETH) $ 2,919.03 3.55%
cardano
Cardano (ADA) $ 0.431263 16.36%
tron
TRON (TRX) $ 0.161562 0.62%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,459.01 3.82%
the-open-network
Toncoin (TON) $ 4.90 0.30%
avalanche-2
Avalanche (AVAX) $ 28.09 4.78%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 1.61%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,091.39 1.77%
weth
WETH (WETH) $ 2,921.72 3.53%
chainlink
Chainlink (LINK) $ 12.93 5.11%
bitcoin-cash
Bitcoin Cash (BCH) $ 372.92 1.18%
sui
Sui (SUI) $ 2.31 1.92%
polkadot
Polkadot (DOT) $ 4.28 5.48%
leo-token
LEO Token (LEO) $ 6.40 3.00%
usds
USDS (USDS) $ 0.991092 0.99%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,073.36 3.69%
litecoin
Litecoin (LTC) $ 71.48 0.87%
uniswap
Uniswap (UNI) $ 8.74 2.11%
near
NEAR Protocol (NEAR) $ 4.22 1.56%
aptos
Aptos (APT) $ 9.70 0.68%
pepe
Pepe (PEPE) $ 0.000011 3.56%
bittensor
Bittensor (TAO) $ 501.36 3.07%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.41 1.42%
internet-computer
Internet Computer (ICP) $ 7.74 0.22%
dai
Dai (DAI) $ 0.999708 0.04%
ethereum-classic
Ethereum Classic (ETC) $ 20.28 1.75%
monero
Monero (XMR) $ 164.04 0.04%
stellar
Stellar (XLM) $ 0.101188 3.01%
crypto-com-chain
Cronos (CRO) $ 0.11 28.58%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.23%
kaspa
Kaspa (KAS) $ 0.112428 4.77%
whitebit
WhiteBIT Coin (WBT) $ 19.57 1.51%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.364455 6.98%
aave
Aave (AAVE) $ 182.89 1.83%
blockstack
Stacks (STX) $ 1.67 0.12%
okb
OKB (OKB) $ 40.03 0.11%
dogwifcoin
dogwifhat (WIF) $ 2.36 1.94%
first-digital-usd
First Digital USD (FDUSD) $ 0.999444 0.00%
arbitrum
Arbitrum (ARB) $ 0.57267 0.97%
filecoin
Filecoin (FIL) $ 3.72 0.32%
mantle
Mantle (MNT) $ 0.657415 3.67%