MNTV - Proxy adviser Glass Lewis recommends Zendesk Momentive holders vote against deal

Proxy firm Glass Lewis recommended that Zendesk (NYSE:ZEN) and Momentive Global (NASDAQ:MNTV) holders vote against a combination of the companies. Zendesk rose 2.7% in premarket trading, while Momentive gained 7.6%. "There remains a credible array of concerns which, in our view, firmly outweigh the value purportedly here," Glass Lewis said, according to traders, who cited a Bloomberg. The proxy adviser recommendation comes as shareholders from both companies have come out Zendesk's planned purchase of SurveyMonkey parent Momentive Global. The recommendation also follows Zendesk's rejection Thursday of an unsolicited bid from a consortium led by Thoma Bravo to buy Zendesk for $127-$132/share. Also see, Zendesk CEO says there's nothing more to say about private-equity buyout offer.

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Proxy adviser Glass Lewis recommends Zendesk, Momentive holders vote against deal