Zendesk shares rise on reports that it is exploring a potential downside (NYSE:ZEN)

Zendesk signs at corporate headquarters in Silicon Valley

Michael Vi / iStock Editorial via Getty Images

Zendesk (NYSE:MEDITATION LEARNING) 8% increase after-hours trading on a reports that the customer relationship software company is looking to sell amid pressure from activist Jana Partners.

Zendesk (MEDITATION LEARNING) is working with advisor Qatalyst Partyrs and has contacted potential buyers including software companies and private equity firms, according to a Bloomberg report. Zendesk has not made a final decision on the purchase and may choose to remain independent.

The report is given as a company face an authorization contest from activist Jana Partners, who are pushing ZEN to add Jana board members or sell itself. In February Zendesk declined an “unsolicited” bid from a consortium of PE companies to acquire Zendesk in an all-cash transaction of value between $127 and $132 per share. Bloomberg reported at the time that the alliance included Hellman & Friedman, Advent International Corp. and Permira.

Jana, originally called for Zendesk to cease operations now Canceled purchase Momentive of SurveyMonkey parent (MNTV) back in late November, in February nominate four directors for the board of directors of Zendesk.

Earlier this month, Light Street founder and chief investment officer Glen Kacher, an investor in Zendesk, said the company could be worth between $180 and $200 per share in a potential takeover. power from one strategic contractor.

CNBC’s David Faber in late February said that Adobe (ADBE) not interested in a potential Zendesk acquisition (MEDITATION LEARNING). While there’s been some speculation that Adobe might be interested, it doesn’t want to buy Zendesk, CNBCs’ Faber said at the time, citing sources familiar with the matter.

Zendesk is expected to publish Q1 results on April 28.

Source link


News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button