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Jana Partners Pulls Zendesk Proxy Fight After $9.5 Billion Deal

  • Investment firm withraws plan to nominate four directors
  • Jana had said company should make board changes or sell

Activist investor Jana Partners withdrew its plan to nominate four directors for Zendesk Inc.’s board after the software maker agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion.

Jana said in a filing Friday that it was withdrawing its proxy materials in connection with the company’s annual meeting. The investment firm previously said that, in the absence of that board changes it was seeking, Zendesk should be sold.