- Software company Zendesk Inc ZEN, which became a takeover target during a failed purchase of SurveyMonkey parent Momentive Global Inc MNTV, is exploring a potential sale, Bloomberg reports.
- Zendesk rejected an acquisition offer from a consortium of private equity firms for as much as $16 billion, Reuters reports.
- Zendesk nixed the Momentive takeover after shareholders in both software companies questioned the $4 billion deal's merits.
- Zendesk brought on a new adviser, Qatalyst Partners, and reached out to potential buyers, including software companies and private equity firms.
- Jana Partners has been pushing Zendesk to change its board significantly and opt for a sale lest it could not initiate the change.
- Price Action: ZEN shares are trading higher by 6.83% at $130 premarket on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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