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Benzinga

Business

Anusuya Lahiri

Why Are Zendesk Shares Trading Higher Today

Zen Zendesk Momentive Nasdaq NYSE SurveyMonkey Zendesk Inc

Software company Zendesk Inc (NYSE:ZEN), which became a takeover target during a failed purchase of SurveyMonkey parent Momentive Global Inc (NASDAQ: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.

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