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Zendesk goes private in $10 bln deal
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +1 min
As part of the deal, Zendesk shareholders received $77.50 per share in cash. Proxy advisory firm Institutional Shareholder Services (ISS) had backed the deal, which Zendesk shareholders approved in September. Jana had pushed for the sale after San Francisco-based Zendesk failed to buy SurveyMonkey parent Momentive Global Inc (MNTV.O) in a $3.9 billion deal. The Momentive deal fell through after it was rejected by Zendesk shareholders. In August, Light Street Capital Management, which manages funds that own more than 2% of Zendesk, said it would vote against the private equity deal and proposed that Zendesk remain a standalone public company and find a new top boss.
1 has held talks with Coca-Cola Co (KO.N) about steps the soda giant could take to ramp up recycling of its cans and bottles, a source familiar with the matter told Reuters on Tuesday. 1 partner responsible for getting three seats at Exxon, brought the Coca-Cola idea to Engine No. 1 from Jana Partners where he had been researching it, another source told Reuters. 1 has suggested a partnership between Coca-Cola and garbage collection and recycling company Republic Services Inc (RSG.N), in which Engine No. Coca-Cola and Republic did not respond to Reuters requests for comment.
Shares of Freshpet, a maker of high-end pet foods, have fallen about 60% this year through Wednesday. An activist investor has a nearly 10% stake in Freshpet and plans to push the pet-food company to make changes to boost its stock price and explore a sale, according to people familiar with the matter. Jana Partners LLC believes Freshpet be an attractive target for larger competitors in the sector that have shown an appetite for deals in recent years, the people said. It also wants the company to consider other changes such as operational and capital-allocation improvements.
The New York-based investor said in a regulatory filing that Freshpet's shares, down nearly 60% so far this year, are undervalued. Jana Partners has a history of pushing for change in the food and beverage industry. Register now for FREE unlimited access to Reuters.com RegisterJana Partners has also been pushing for changes at packaged food maker TreeHouse Foods Inc (THS.N) since last year. Freshpet has not yet spoken to Jana, but will "look forward to hearing their perspectives", the company said in an emailed statement. The news of Jana's stake was first reported by the Wall Street Journal.
Zendesk shareholders vote in favor of $10.2 bln go-private deal
  + stars: | 2022-09-19 | by ( ) www.reuters.com   time to read: +1 min
Register now for FREE unlimited access to Reuters.com RegisterZendesk logo is seen in this illustration taken June 27, 2022. read moreThe firm said that the deal would close in the fourth quarter of the year. Register now for FREE unlimited access to Reuters.com RegisterProxy firm Institutional Shareholder Services (ISS) backed the deal and warned that there would be "significant downside risk" if Zendesk shareholders failed to approve it. read moreEarlier 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. Register now for FREE unlimited access to Reuters.com RegisterReporting by Akash Sriram in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.
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