Software company Zendesk Inc’s shareholders should vote for a planned acquisition by a group of private equity firms, a prominent proxy advisory firm recommended on Tuesday.
The proxy firm issued its recommendation days before shareholders are set to vote on Sept. 19 and after hedge fund and investor Light Street Capital Management proposed that Zendesk remain independent.
Last week, Light Street said it would vote against the proposal by a consortium led by private equity firms Hellman & Friedman and Permira to pay $77.50 a share in cash for Zendesk.
Read more: Reuters
