Elliott offers to acquire Riverbed for USD19.00 per share in cash
Elliott Management Corporation has sent a letter to the board of directors of Riverbed Technology offering to acquire all of the firm’s outstanding shares of common stock at USD19.00 per share in cash.
Elliott, affiliates of which collectively own or have economic exposure to approximately 10.5 per cent of the common stock and equivalents of Riverbed Technology, is a multi-strategy investment firm with deep experience investing in public and private companies.
According Elliot, the offer represents a significant 29 per cent premium over Riverbed Technology’s unaffected price of USD14.70.
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