(Reuters) – Zendesk (NYSE) Inc investors will reject a proposal to takeover SurveyMonkey parent Momentive Global, effectively ending the approximately $4 billion deal. This is according to people who are familiar with the matter.

Prominent investors such as large mutual funds and state pension fund funds have been critical of the deal.

To complete the merger, both shareholders of the companies needed to vote in favor. Two sources confirmed that Zendesk investors are opposed to the merger and it will likely be ended.

Official voting will occur on Friday.

Zendesk representatives could not reach us for comment.

Zendesk purchased Momentive for $4 billion in an all stock deal. After the announcement, Zendesk stock prices fell more than 20% and were still below their pre-deal levels until Nov. 30 when Jana Partners, an activist investor firm wrote a letter opposing the plan and asking the company to halt the purchase.

Janus Henderson and Neuberger Berman, investors in Florida’s state pension system Florida State Board of Administration, have repeatedly said that they will reject the deal. It was also rejected by proxy advisory firms Institutional Shareholder Services (which help to guide investors’ votes) and Glass Lewis.

“We believe a rejection of the proposed Momentive acquisition would be a huge win for Zendesk shareholders, a repudiation of Zendesk’s board, and a strong indication that Zendesk either requires significant board change or should be sold,” a representative for Jana Partners said on Friday.

Reuters reports that Jana Partners initiated a proxy fight against Zendesk, and appointed four directors. The company was rehabilitated following a controversial attempt to acquire Momentive.