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Stock Market & Financial Investment News

News Breaks
January 9, 2014
06:27 EDTRVBD, PLCMStrategic buyer could pay over $25/share for Riverbed, says Citigroup
Citigroup expects Riverbed (RVBD) to reject Elliott's $19 per share takeover offer and believes potential outcomes could result in a stock value of $21-$25 per share. Citi estimates a financial buyer could pay up to $23 per share for Riverbed and still earn over 20% annually. The firm believes a strategic buyer could pay over $25 per share for the company. Citi views Riverbed as an attractive leveraged buyout candidate, and says the buyout math also looks attractive for its peer Polycom (PLCM). Citi estimates a financial buyer could pay $14 per share for Polycom. Riverbed closed yesterday up $1.68 to $19.53 while Polycom added 4c to $11.65.
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September 17, 2014
11:47 EDTRVBDRiverbed's Scott Downie departs company to join Illumio, Re/code says
Scott Downie, who has run Riverbed's customer support operations for nearly nine years, has left the company to join security startup Illumio, Re/code reports. Reference Link
September 12, 2014
20:39 EDTRVBDRiverbed announces developments in litigation with Silver Peak
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20:35 EDTRVBDJudge upholds infringement verdict against Riverbed in favor of Silver Peak
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September 10, 2014
12:42 EDTRVBDElliott says $21/share Riverbed offer stands, board not working with holders
Elliott Management issued a public statement regarding Riverbed Technology, stating in part: “Riverbed’s announcement today sends a clear message to shareholders: We don’t care what you think...Going against every modern principle of shareholder engagement and good corporate governance, Riverbed’s Board has decided to ignore the wishes of shareholders on every count. The Board didn’t just ignore the larger message to stop entrenching and engage. It even decided to keep the Board member that was voted off, failed to articulate any meaningful changes to the compensation plan, and chose to keep its poison pill. Above all, the Board continues to ignore serious acquisition interest even after the company publicly admitted that it will miss its “10% growth plan” by a wide margin...We have tried to engage with this Board, and our cash offer of $21 per share for Riverbed still stands. However, the Board’s decision today indicates that these directors are simply not interested in working with shareholders constructively. As one of the company’s largest shareholders, we intend to remain fully engaged, and we will continue to work toward a value-maximizing outcome.”
12:39 EDTRVBDElliott says $21 per share offer for Riverbed still stands
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12:39 EDTRVBDElliott says Riverbed board not interested in working with shareholders
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08:33 EDTRVBDRiverbed affirms commitment to corporate governance enhancements
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08:31 EDTRVBDRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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