Zendesk falls on decision to stay as standalone firm

Momentive Global

09/06/2022 14:27

** Shares of Zendesk Inc  ZEN.N  fall 8.8% to $73.41
premarket 
    ** Software maker says it will continue as independent
public company after completing strategic review
    ** Says it will hold annual shareholder meeting on Aug. 17,
after activist investor Jana Partners on Wednesday threatened to
sue Zendesk over failure to set date for event  urn:newsml:reuters.com:*:nL4N2XW2J3
    ** Jana Partner, with about 2.5% stake in co, has argued
that company needs to be rehabilitated after its unpopular
attempt to buy Momentive Global and has also said that if change
is not sufficient, the company "should be sold"
    ** Up to last close, ZEN down ~23% YTD

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))