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Financial Advisory  + Alternative Assets  + Direct Investment  | 

Zendesk Shareholders Approve $10.2B Takeover by Investor Consortium 

Zendesk Inc shareholders have approved a $10.2bn planned takeover offer of the software maker by a group of private equity firms led by Hellman & Friedman and Permira, the company said. 

After persistent pressure from activist investor Jana Partners and a previous agreement in June, Zendesk shareholders will be paid $77.50 per share in cash by the consortium. The firm said the deal would close in the fourth quarter of the year. 

Zendesk’s proxy firm, Institutional Shareholder Services (ISS), backed the deal and warned that if Zendesk shareholders did not agree there would be a significant risk involved.  

Meanwhile, Light Street Capital Management, which manages funds that own more than 2% of Zendesk, said in August it would vote against the merger, stressing the importance of Zendesk remaining a standalone public company and finding a new CEO for the San Francisco firm founded in 2007. 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.