World Wrestling Entertainment Inc
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Communication Services : Entertainment | Small Cap Blend
Company profile

World Wrestling Entertainment, Inc. (WWE) is an integrated media and entertainment company. The Company is principally engaged in the production and distribution of wrestling entertainment content through various channels, including over-the-top network (WWE Network), filmed entertainment, live events, and others. Its segments include Media, Live Events and Consumer Products. The Media segment reflects the production and monetization of long-form and short-form video content across various platforms, including WWE Network, broadcast and pay television, digital and social media, as well as filmed entertainment. The Live Events segment provides ongoing content for its media platforms. This segment also includes ticket sales and sale of travel packages associated with the Company’s global live events. The Consumer Products segment engages in the merchandising of WWE- branded products, such as video games, toys and apparel, through licensing arrangements and direct-to-consumer sales.

Price
Delayed
$69.82
Day's Change
2.13 (3.15%)
Bid
--
Ask
--
B/A Size
--
Day's High
69.95
Day's Low
67.88
Volume
(Below Average)

Today's volume of 134,586 shares is on pace to be lower than WWE's 10-day average volume of 614,204 shares.

134,586

ZEN Alert: Monsey Firm of Wohl & Fruchter LLP Investigating Sale of Zendesk to an Investor Group Led By Permira and Heller & Friedman

9:59 am ET July 12, 2022 (Globe Newswire) Print

EQNX::TICKER_START (NYSE:ZEN), EQNX::TICKER_END The law firm of Wohl & Fruchter LLP is investigating whether the directors of Zendesk, Inc. (ticker: ZEN) ("Zendesk") acted in the best interests of Zendesk shareholders in approving the sale of Zendesk to an investor group led by Permira and Hellman & Friedman LLC for $77.50 per share in cash after rejecting a proposal for $127-132 per share in February 2022.

If you remain a Zendesk shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:

https://wohlfruchter.com/cases/zendesk/

Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.

Why is there an investigation?

On June 24, 2022, Zendesk announced an agreement for an investor group led by Permira and Hellman & Friedman LLC ("Investor Group") to purchase all of the outstanding shares of Zendesk for $77.50 per share in cash. The agreement has been approved by the Zendesk board of directors ("Board").

Our investigation concerns whether Zendesk's Board acted in the best interests of Zendesk shareholders in approving the sale, including whether the acquisition price adequately compensates Zendesk shareholders, and whether all material information regarding the transaction has been fully disclosed.

Notably, on February 10, 2022, Zendesk's Board confirmed that it had received, thoroughly reviewed and rejected an unsolicited, non-binding proposal from a consortium of private equity firms to acquire all of Zendesk's outstanding shares in an all-cash transaction valued at $127-$132 per share on the ground that the proposal significantly undervalued the Company.

On June 9, 2022, Zendesk's Board advised that after a comprehensive review of strategic alternatives aimed at enhancing shareholder value, it had unanimously determined that continuing to execute on the Company's strategic plan as an independent, public company is in the best interest of the Company and its shareholders.

On June 14, 2022, the Wall Street Journal reported talks to settle differences between Zendesk and activist investor Jana Partners (which owned nearly 3% of Zendesk's outstanding shares) that could include the departure of Chief Executive Officer Mikkel Svane and Carl Bass, Zendesk's lead independent director.

Then just over ten days later, the Board concluded that the sale to the Investor Group for $77.50 per share in cash was in the best interests of the Company and its shareholders. The same day, Jana Partners withdrew its nominees for the Zendesk Board.

Presently, according to an analysis of Wall Street price targets for ZEN in the last 90 days published on Seeking Alpha, there is an average price target for ZEN of $98.63 per share, and a high price target for ZEN of $193.00 per share.

Further, according to a discounted cash flow analysis by the Simply Wall Street research firm, Zendesk's fair value is $186.46 per share.

About Wohl & Fruchter

Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.

Contact:

Wohl & Fruchter LLP

Joshua E. Fruchter

Toll Free 866.833.6245

alerts@wohlfruchter.com

www.wohlfruchter.com

https://ml.globenewswire.com/media/N2U2ZWJmNGYtMGE4ZS00MWY3LWFhZDItYTBiYTFhOWU2ZGI0LTEyNDQ4MzA=/tiny/Wohl-Fruchter-LLP.png

https://ml.globenewswire.com/media/N2U2ZWJmNGYtMGE4ZS00MWY3LWFhZDItYTBiYTFhOWU2ZGI0LTEyNDQ4MzA=/tiny/Wohl-Fruchter-LLP.png

comtex tracking

COMTEX_410033326/2010/2022-07-12T09:59:23

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