(Reuters) – Zendesk Inc shareholders on Friday rejected its $4 billion takeover of web-survey company SurveyMonkey’s parent Momentive Global Inc.
Momentive said its merger agreement with Zendesk has terminated.
Zendesk proposed to buy Momentive in October in an all-stock deal, which drew opposition shortly after from investors, including activist hedge fund Jana Partners, and proxy advisory firms Institutional Shareholder Services and Glass, Lewis & Co criticizing its financial merit and logic.
(Reporting by Nivedita Balu and Eva Mathews in Bengaluru; Editing by Maju Samuel)
