Zendesk surges to near four-month high on report of takeover approaches

Momentive Global

10/02/2022 21:09

** Shares of software firm  ZEN.N  jump ~18% to near
four-month high of $121.62 on report of takeover offers
    ** Co received takeover approaches from private-equity firms
including Thoma Bravo - WSJ
    ** Report also adds activist Jana Partners is preparing to
nominate four directors to Zendesk's board  urn:newsml:reuters.com:*:nFWN2UL19Y
    ** However, Zendesk has rejected an offer from Thoma Bravo
and no other offers have currently been received, Reuters
reported, citing a source familiar with the matter.
    ** Zendesk has stuck by its proposed acquisition of
Momentive Global Inc  MNTV.O  in a deal valued at about $4
billion in October, despite facing pressure from activist
investors to drop it  urn:newsml:reuters.com:*:nL4N2TT42B urn:newsml:reuters.com:*:nL4N2TR3OY
    ** Janus Henderson Investors, which holds about 4.94% stake
in co has suggested the company focus on executing on the
(Zendesk) standalone business while Jana believes the deal would
likely fail.  urn:newsml:reuters.com:*:nL4N2SL42V
    ** Shares of company are up ~10.4% YTD 

 (Reporting by Nishara Karuvalli Pathikkal in Bengaluru)