Zendesk down, Jana mounts pressure to drop plan to buy SurveyMonkey parent

Momentive Global

03/01/2022 20:10

** Shares of software services firm Zendesk Inc  ZEN.N  down
1.5% at $102.70
    ** Activist investor Jana Partners increases pressure to
drop plans to buy Momentive Global  MNTV.O , the parent of
SurveyMonkey  urn:newsml:reuters.com:*:nL1N2TJ133
    ** Jana says new documents show the acquisition plan for
MNTV appears to have been made only after MNTV's advisers
reached out to ZEN at the end of August 2021
    ** Jana in a letter to board says deal does not appear to be
part of a long-considered strategy
    ** ZEN had agreed in late October to buy  MNTV in an
all-stock deal worth about $4 bln at the time  urn:newsml:reuters.com:*:nL4N2RO5WH
    ** 11 of 20 brokerages rate the stock "buy" or higher, 9
"hold"; their median PT is $137.50
    ** Up to Friday's close, shares were down 27.1% YTD 

 (Reporting by Kannaki Deka in Bengaluru)
 ((Kannaki.Deka@thomsonreuters.com))