Zendesk Acquisition of Momentive Revealed To Be Dramatically Flawed

Introduces Substantial Execution Risk, Has Unconvincing Strategic Rationale, Relies On Synergy Claims That Are Not Credible, Lacks Financial Justification, Is Result Of Poor Process, And Impairs Zendesk's Long-Term Value Creation Potential

Zendesk Analysts & Investors Negative On Transaction

JANA Partners Releases Presentation to Proxy Advisory Firms