Zendesk Last-Ditch Effort To Justify Momentive Acquisition Revealed To Be Dramatically Flawed, The Market Has Spoken: Momentive Transaction Is Wrong Path Forward For Zendesk

Rhea-AI Summary

JANA Partners LLC has communicated concerns to Zendesk's Board regarding the justification of its acquisition of Momentive (MNTV), highlighting significant flaws in Zendesk's rationale. The investor believes the proposed transaction is misguided and does not align with market expectations. JANA's letter suggests that the acquisition path may not be favorable for Zendesk's future strategy.

Positive

• None.

Negative

• JANA Partners deems Zendesk's justification for the Momentive acquisition significantly flawed.
• Concerns raised suggest the acquisition may not align with market expectations, indicating potential strategic misalignment.
• The investor believes the proposed transaction is a wrong path forward for Zendesk.

NEW YORK, Feb. 7, 2022 /PRNewswire/ -- JANA Partners LLC today announced that it has sent a letter to the Zendesk (NYSE: ZEN) Board of Directors highlighting the flaws in Zendesk's last-ditch effort to justify its proposed acquisition of Momentive (NASDAQ: MNTV-formerly SurveyMonkey). 

The full text of JANA Partners LLC's letter is available for viewing at the following link: www.janapartners.com/zendesk

Contact: IR@janapartners.com

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SOURCE JANA Partners LLC

FAQ

What concerns did JANA Partners raise about Zendesk's acquisition of Momentive (MNTV)?

JANA Partners highlighted significant flaws in Zendesk's justification for the acquisition, suggesting it may be misguided.

What is the main argument against Zendesk's acquisition of Momentive?

The main argument is that the acquisition does not align with market expectations and may not be a favorable strategic move.

What impact could JANA Partners' letter have on Zendesk (ZEN)?

The letter could increase scrutiny on the acquisition and influence shareholder sentiment regarding Zendesk's strategic direction.

When did JANA Partners send the letter to Zendesk's Board?

JANA Partners sent the letter on February 7, 2022.