Zendesk Board Determines That Recapitalization Proposal from Light Street Capital Management is Not a Superior Proposal

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Sep 01, 2022

Zendesk, Inc. (NYSE: ZEN) (“Zendesk” or the “Company”) today announced that its Board of Directors has completed a thorough financial and strategic evaluation of the unsolicited, non-binding recapitalization proposal from Light Street Capital Management (“Light Street”), in consultation with its independent financial and legal advisors, and determined that it is neither a Superior Proposal nor reasonably likely to lead to a Superior Proposal under the Company’s merger agreement with the consortium led by Hellman & Friedman and Permira (the “Consortium”).