Zendesk stock rises on report of talks with activist investor Jana

Shares of Zendesk Inc. rose more than 4% in the extended session Tuesday after The Wall Street Journal, citing people familiar with the matter, said that the software company is in talks with activist investor Jana Partners LLC. Zendesk and Jana are “discussing a truce” that could involve Chief Executive Mikkel Svane stepping down, in addition to changes to the board, including removing director Carl Bass, the Journal reported. Zendesk earlier this month said it would continue as a standalone public company after receiving “no actionable” buyout bids as it pursued a potential sale. The stock ended the regular trading day down 5%.

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