Zendesk Inc. said late Friday it has officially called off its plan to acquire SurveyMonkey parent Momentive Global Inc. after it failed to garner enough shareholder support.
“While we were excited by the potential of this transaction to transform the customer experience and create stockholder value, we respect and appreciate the perspectives of our stockholders,” said Mikkel Svane, Zendesk
chief executive and founder, in a statement.
Last month, activist hedge fund Jana Partners urged Zendesk’s board to terminate the deal ahead of Friday’s vote by shareholders of both companies.
In a statement, Momentive
said it had gained enough shareholder support for the transaction.
Earlier in the month, Zendesk had rejected an unsolicited takeover offer from Thoma Bravo LP and other private-equity firms.
Back in October, Zendesk offered to buy Momentive in a deal valued at $4 billion.