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ASC Advisors represents Light Street Capital as it opposes Hellman & Friedman and Permira’s $10.2B cash deal to acquire Zendesk, San Francisco-based customer relationship management company.
Zendesk on June 24 agreed to a $77.50 per share offer, which represented a 34 percent premium on its closing stock price.
Light Street said in its Aug. 29 letter to Zendesk’s board the proposed transaction materially undervalues the company and is detrimental to shareholder interest.
The owner of two percent of Zendesk’s shares offered an alternative plan to the H&F/Permira acquisition, a program that includes a recapitalization, tender offer, stock buyback and revised corporate operating plan.
ASC Advisors’ Steve Bruce and Taylor Ingraham handle Light Street Capital.
FGS Global’s John Christiansen and Zachary Tramonti represented Zendesk in the H&F/Permira deal.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
