Cracks Start to Appear in $890 Billion Stock-Fueled M&A Boom
- Five9 shareholders reject Zoom’s offer after recent slump
- DraftKings, NortonLifeLock other buyers in M&A involving stock
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The slump in the stock market is having ripple effects in mergers and acquisitions.
Zoom Video Communications Inc.’s deal to use its stock to acquire Five9 Inc. collapsed Thursday after a plunge in the buyer’s share price. The agreement, which valued Five9 at more than $14 billion when it was announced, is now worth only $9.5 billion.