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SurveyMonkey father or mother Momentive International (NASDAQ:MNTV) is extra prone to be a takeover goal for a personal fairness agency than a strategic acquirer, in response to a Stifel analyst.
Momentive (MNTV) shares soared 18% on Wednesday on a Bloomberg report that the corporate is weighing a sale after receiving takeover curiosity.
A attainable sale comes after Zendesk (ZEN) agreed to purchase Momentive (MNTV) final yr for $4.2 billion, however axed the deal in February after Zendesk shareholders got here out towards it. Momentive shares had plunged 60% earlier than as we speak for the reason that Zendesk deal was terminated in late February.
Bloomberg in November reported that personal fairness agency Permira had made all-cash bid for Momentive (MNTV) earlier than it agreed to its authentic take care of Zendesk.
“We notice that a number of personal fairness companies had been circling the corporate throughout its final deal course of, and we consider that’s the extra possible route the corporate would absorb a sale versus a strategic deal,” Stifel analyst J. Parker Lane wrote in a notice on Wednesday.
Stifel’s Lane, who has a maintain score on Momentive (MNTV) raised his worth goal on MNTV to $8 from $7.
Momentive (MNTV) disclosed in a December submitting that it had curiosity from two different events earlier than it agreed to the ZenDesk sale.
Momentive (MNTV) is about to report Q3 outcomes on Nov. 3.
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