(MNTV): Johnson Fistel Investigates Proposed Sale of Momentive Global Are Shareholders Getting a Fair Deal?

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Nov 01, 2021, 13:29 ET

SAN DIEGO, Nov. 1, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Momentive Global Inc. (NASDAQ: MNTV) ("Momentive" or the "Company") breached their fiduciary duties in connection with the proposed sale of the Company to Zendesk, Inc. (NYSE: ZEN).

On October 29, 2021, Momentive announced entering into a merger agreement with Zendesk. Under the terms of the proposed transaction, shareholders of Momentive will receive 0.225 shares of Zendesk for each share of Momentive that they own, representing implied per-share merger consideration of approximately $26.78 based upon Zendesk's October 28, 2021 closing price of $119.01.

Momentive shareholders will be subject to the future price fluctuation of Zendesk's stock price. In early morning trading on November 1, 2021, Zendesk stock was trading at $99.29.

Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings and revenue growth. Also, one Wall Street analyst has a $30.00 price target on the stock.

If you are a shareholder of Momentive and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP