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Global investment firms Permira and Hellman & Friedman LLC agreed to takeover Zendesk, Inc (NYSE: ZEN) in an all-cash transaction that values Zendesk at $10.2 billion. The purchase price of $77.50 per share implies a premium of 34% over Zendesk's closing stock price of $57.
Zendesk had a difficult time over the last several months. It has been hounded by activist investors, Jana Partners.
The company will go private once the deal closes.
Shares of Zendesk Inc. ZEN, +1.29% soared 29.5% in premarket trading Friday, after the customer experience platform company confirmed a deal to be acquired by an investor group that includes Permira and Hellman & Friedman in an all-cash deal valued at about $10.2 billion. Under terms of the deal, the Permira and H&F will pay $77.50 for each Zendesk share outstanding, which represents a 33.7% premium to Thursday's closing price of $57.95.
Zendesk, Inc (NYSE: 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.
The Wall Street Journal reports the provider of cloud-based customer-service software is in takeover talks with a group of buyout firms.
Software company Zendesk Inc, which has a market value of over $7 billion, is close to a deal with a group of buyout firms that includes Hellman & Friedman LLC and Permira, people familiar with the matter said on Thursday.
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Zendesk Inc (NYSE:ZEN) is up 2.6% to trade at $58.47 at last glance, after news that the equity is in settlement talks with activist investor Jana Partners.
Zendesk Inc is in talks to settle with activist investor Jana Partners, which could involve Mikkel Svane stepping down as chief executive and some changes to the board, according to a report by the Wall Street Journal on Tuesday.