MNTV - Zendesk plummets after saying it will remain independent after strategic review ends (update)

Update 9:35am: Updates shares. Zendesk (NYSE:ZEN) plunged 13% after it said plans to remain an independent company after a strategic review concluded. Zendesk  (ZEN) said no actionable proposals were submitted during its sales process with the final bidders citing adverse market conditions and financing difficulties at the end of the process, according to a statement. Zendesk also set a Aug. 17 date for its 2022 annual meeting after activist Jana Partners yesterday said it planned to sue the tech company to set a date.  Zendesk (ZEN) dropped 6.9% on Wednesday after CNBC reported that a potential takeover of the company was less likely to happen.  In February Zendesk rejected an "unsolicited" bid from a consortium of PE firms to acquire Zendesk in an all-cash transaction valued between $127 and $132 per share. Zendesk (ZEN) said it's financial advisors conducted an outreach to 26 potential counterparties, including 16 potential strategic partners and 10 financial sponsors, including a group of investors

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Zendesk plummets after saying it will remain independent after strategic review ends (update)