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Jana Partners calls for board changes or sale of Zendesk (ZEN)

  • March 1, 2022

POTENTIAL DEAL DETAILS

StockZendesk, Inc.SymbolZEN
Date Announced02/28/2022Source Press Release
TypeCompany Seeking Strategic Alternatives
Date of Confirmation: 06/24/2022Price at Confirmation: $57.95
Potential Profit: -50.33%Annualized Profit: -158.37%

According to a letter sent to Zendesk’s board, JANA Partners LLC believes Zendesk (ZEN) requires either significant board change, or in the absence of such change, should be sold after failed Momentive deal.

Previously on November 30, 2021JANA Partners LLC announced that it had sent a letter to the Zendesk (ZEN) Board of Directors calling on them to immediately terminate the proposed acquisition of Momentive (MNTV).

Update(s):

April 18, 2022: Zendesk Inc. (ZEN), a software company that became a takeover target during a failed purchase of SurveyMonkey’s parent, is exploring a potential sale, according to people familiar with the matter.

June 9, 2022: Zendesk Inc said it would continue as an independent public company after the software firm completed a strategic review.

June 23, 2022: Zendesk Inc.(ZEN is close to a deal with a group of buyout firms that includes Hellman & Friedman LLC and Permira, according to people familiar with the matter, resurrecting a failed attempt to sell itself in what would be one of the biggest private-equity takeovers of the year.

September 6, 2022: Software company Zendesk Inc’s (ZEN) shareholders should vote for a planned acquisition by a group of private equity firms, a prominent proxy advisory firm recommended on Tuesday.

September 12, 2022: Zendesk, Inc. (ZEN) issued a statement reiterating its support for the proposed acquisition of Zendesk by a consortium led by Hellman & Friedman and Permira and expressing its views in response to a letter from Light Street Capital Management to the Zendesk Board of Directors related to the Consortium transaction.

September 19, 2022: Zendesk, Inc. (ZEN) announced that its stockholders voted to adopt the Agreement and Plan of Merger whereby Zendesk will be acquired by a consortium led by Hellman & Friedman and Permira for $77.50 per share in cash.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.