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Merger activity increased significantly last week with seven new deals announced and five deals completed. Two of these seven new deals were over $1 billion in size and one of them was a potential deal in the works that went through a rather unusual roller coaster process as outlined below.
Zendesk (ZEN)
Zendesk, a software-as-a-service products provider, entered into a definitive agreement on October 28, 2021 to acquire Momentive (MNTV), the parent of SurveyMonkey. Zendesk’s price at the time of this announcement was $119.01 and it was the start of a saga that saw the Momentive deal scuttled and Zendesk finally ending up inking a deal to be acquired by an investor group led by Permira and Hellman & Friedman.