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ZEN / Zendesk board rejects takeover bid from private-equity firms

Zendesk Inc.'s ZEN, +10.74% board on Thursday rejected an unsolicited takeover bid from Thoma Bravo LP and other private-equity firms in an all-cash transaction valued at $127 to $132 a share. Zendesk, which also faces a proxy fight from an activist investor seeking to torpedo its proposed purchase of SurveyMonkey parent company Momentive Global Inc. MNTV, -2.52% , issued the following statement: "Consistent with its fiduciary obligations, after careful review and consideration conducted in consultation with its independent financial and legal advisors, the Board concluded that this non-binding proposal significantly undervalues the Company and is not in the best interests of the Company and its shareholders. Read More

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Posted: Feb 10 2022, 17:01

Author Name: Market Watch

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