MNTV - Momentive Global holder Legion is said to oppose Zendesk acquisition

Momentive Global (NASDAQ:MNTV) holder Legion Partners is said to oppose Zendesk's (NYSE:ZEN) planned $4B acquisition. Momentive gained 3.2% in premarket trading. Activist Legion believes the Zendesk deal undervalues Momentive, the parent of SurveyMoney, according to a Bloomberg report.  Legion, which has a 1.4% stake in Momentive (MNTV) told Bloomberg in a statement that it's "strongly" against the Zendesk deal and would do whatever is necessary to stop the transaction. Legion's opposition to the deal comes after Momentive dropped 8% on the deal announcement on Friday as Zendesk's share price plunged almost 15% as analysts disliked the deal, leading to several downgrades on Zendesk.

For further details see:

Momentive Global holder Legion is said to oppose Zendesk acquisition