Proxy advisor ISS seeks vote against Zoom-Five9 deal

Zwahlen Et Mayr SA

17/09/2021 15:59

** Proxy advisory firm Institutional Shareholder Services 
recommends shareholders to vote against Zoom's  ZM.O  $14.7 bln
deal for cloud-based call center operator Five9  FIVN.O , citing
growth concerns
    ** Shares of FIVN up ~3% at $173.16, while ZM up 1.5%
    ** The all-stock deal exposes Five9 shareholders to a more
volatile stock whose growth prospects have become less
compelling as society inches towards a post-pandemic environment
- ISS  urn:newsml:reuters.com:*:nL4N2QJ2XY
    ** ZM in July struck its largest-ever acquisition for Five9
in a bid to expand beyond its core video-conferencing services
that have seen a surge during the pandemic 
    ** Separately, brokerage Piper Sandler raises rating on FIVN
to "overweight" from "neutral" but cuts PT by $3 to $200
    

 (Reporting by Akanksha Rana)