Here's Why Zendesk Shares Are Trading Higher Today

Zendesk, Inc ZEN has almost reached a deal with a group of buyout firms, including Hellman & Friedman LLC and Permira, the Wall Street Journal reports.
Zendesk, with a market value of ~$7 billion, was likely to strike a settlement agreement with activist investor Jana Partners LLC days after it declined to sell itself in a private-equity auction.
Zendesk and Jana had explored a truce involving the exit of CEO Mikkel Svane and changes to the board, including the removal of director Carl Bass.
Jana had urged Zendesk to incorporate significant board changes or a sale following the failed bid for SurveyMonkey parent Momentive Global Inc MNTV.
Jana claimed that Zendesk's board received the lowest deal-related shareholder support in the last 20 years for its planned acquisition of Momentive.
Recently Zendesk had expressed its wish to stay independent after holding talks with potential buyers due to the choppiness in financing markets, making it harder to finance deals.
In February, Zendesk had reportedly dumped a ~$17 billion takeover proposal from a group of PE firms, including Hellman, Advent International Corp, and Permira.
Zendesk specializes in helping companies with customer communications.
Price Action: ZEN shares traded higher by 47.75% at $85.62 in the premarket on the last check Friday.