2024-08-29 15:00:00 +0300

Zendesk Investor Light Street Seeks to Nix Takeover, Oust CEO

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Bloomberg
By Scott Deveau

A large Zendesk Inc. investor planning to vote against the takeover has proposed an alternative strategy that includes a $4 billion investment to keep the software company independent.

Light Street Capital Management, which owns more than 2% of Zendesk, also wants the company to expand its board and replace Chief Executive Officer Mikkel Svane, who would remain chairman under the proposal.

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