Zendesk has confirmed a-10.2B buyout cut-off price

Customer service software company Gendesk has announced that it will acquire গ্রুপ 10.2 billion in a group of investors led by private equity firm Hellman & Friedman and investment company Permira, as well as the Abu Dhabi Investment Authority and GIC, a wholly owned subsidiary. Resources fund from Singapore.

The acquisition marks a turbulent year for the California-based company and comes just two weeks after it announced it would remain a “public, independent company.”

In February this year, Zendesk’s board of directors rejected a প্রস্তাব 17 billion acquisition proposal from a consortium of private equity firms, saying it “significantly devalues” the company.

The final offer accepted by the Zendesk board this week was $ 77.50 per share, which represents a premium of $ 54.53 to the company at the beginning of the month, but it is still significantly lower than the প্রতি 127- 2 132 per share offer that the board rejected in February.

Two weeks later, Zendesk announced that it was also canceling Momentive’s proposed $ 4.1 billion takeover of SurveyMonkey’s owners, after stockholders rejected the deal.

On June 9, 2022, Zendesk issued a statement stating that despite meeting with 16 potential strategic partners and 10 financial sponsors, “no effective proposals have been submitted” due to “adverse market conditions and financing difficulties”.

Acknowledging that recent events may upset some shareholders, Carl Bass, chief independent director of Gendesk, said in a statement that after a comprehensive review process and long-term market outlook, the board concluded that “this transaction was the best option” and to accept the offer. Voted unanimously.

Copyright © 2022 IDG Communications, Inc.

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