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MOMENTIVE GLOBAL INC.

(MNTV)
  Report
Delayed Nasdaq  -  04:00 2022-12-07 pm EST
7.130 USD   +0.42%
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Zendesk shareholders vote in favor of $10.2 billion go-private deal

09/19/2022 | 04:42pm EST
FILE PHOTO: Illustration shows Zendesk logo

(Reuters) - Zendesk Inc shareholders have approved a $10.2 billion planned acquisition of the software maker by a group of private equity firms led by Hellman & Friedman and Permira, the company said on Monday.

The company in June agreed to be taken private in a deal that would be see investors receive $77.50 per share in cash after persistent pressure from activist investor Jana Partners.

The firm said that the deal would close in the fourth quarter of the year.

Proxy firm Institutional Shareholder Services (ISS) backed the deal and warned that there would be "significant downside risk" if Zendesk shareholders failed to approve it.

Light Street Capital Management which manages funds that own more than 2% of Zendesk said in August that it would vote against deal and proposed that it remain a standalone public company and find a new top boss.

Earlier this month, Zendesk said that macroeconomic conditions and business momentum have continued to weaken since the go-private deal announcement in late-June from the consortium.

(Reporting by Akash Sriram in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MOMENTIVE GLOBAL INC. 0.42% 7.13 Delayed Quote.-66.29%
All news about MOMENTIVE GLOBAL INC.
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Analyst Recommendations on MOMENTIVE GLOBAL INC.
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Financials (USD)
Sales 2022 480 M - -
Net income 2022 -99,6 M - -
Net Debt 2022 36,0 M - -
P/E ratio 2022 -10,5x
Yield 2022 -
Capitalization 1 060 M 1 060 M -
EV / Sales 2022 2,28x
EV / Sales 2023 1,98x
Nbr of Employees 1 600
Free-Float 86,3%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 7,13 $
Average target price 11,42 $
Spread / Average Target 60,1%
EPS Revisions
Managers and Directors
Alexander J. Lurie Director, Chief Executive & Financial Officer
David A. Ebersman Chairman
Elizabeth Ducot Chief Technology Officer
Jon Cohen Chief Research Officer
Eric Johnson Chief Information Officer
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