Zendesk surges 50% in premarket as buyout gets closer

Zendesk (ZEN.US), US software firm, surges over 50% in today's premarket trading following a Dow Jones report. According to the report, Zendesk is getting closer to reaching an agreement with private equity firms Hellman & Friedman and Permira. The deal will result in PE firms acquiring Zendesk. Dow Jones report does not offer any details but says that deal may be finalized within days. It comes around 2 weeks after Zendesk ended an unsuccessful bid to sell itself.

Zendesk (ZEN.US) has recently halted a drop at the $55.00 support zone marked with pandemic lows. Current premarket quotes point to an over 50% jump at the start of today's trading with stock opening near $89.00 mark. Note that this level lies within a medium-term resistance zone, marked with previous price reactions.

Source: xStation5