– Activist hedge fund Jana Companions on Monday accused Zendesk of “hostility” towards viewpoints opposing the corporate, days after shareholders roundly rejected a deliberate deal to purchase Momentive World.
Jana Companions, which is making an attempt to win 4 seats on the software program agency’s board, stated Zendesk lead impartial director Carl Bass wrote an “expletive-laden e-mail” to analysis agency 13D Monitor’s founder Ken Squire over a notice he wrote about Zendesk in early December.
The e-mail, closely redacted to get rid of some phrases, was the main target of a phase broadcast on Friday by CNBC, the place Squire is a contributor.
“… now we have now additionally discovered that Zendesk’s board seems to condone unprofessional acts of hostility towards dissenting viewpoints,” Jana Companions stated in a letter.
Zendesk didn't instantly reply to a Reuters request for remark.
The hedge fund additionally reiterated that the board must be overhauled or “within the absence of such change, (the corporate) must be offered”.
Earlier this month, Jana nominated 4 administrators to the board of Zendesk, arguing that the corporate should be rehabilitated after an unpopular try to purchase Momentive.
Zendesk shareholders on Friday rejected a proposed takeover of SurveyMonkey guardian Momentive, shortly after Zendesk rejected a bid for itself.
The Momentive deal, valued at roughly $4 billion, was closely criticized by distinguished buyers together with state pension funds and enormous mutual funds which questioned its rationale and stated it could seemingly be too dangerous.
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