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Stock Market & Financial Investment News

News Breaks
January 8, 2014
10:45 EDTRVBDElliot offers to acquire Riverbed for $19.00 per share
Elliott Management sent a letter to the board of Riverbed offering to acquire all of the outstanding shares of common stock of Riverbed for a price of $19.00 per share in cash. Elliott, affiliates of which collectively own or have economic exposure to approximately 10.5% of the common stock and equivalents of Riverbed is a multi-strategy investment firm. In the letter, Elliot said, "Riverbedís valuation has been impaired by slowing growth in its core WAN optimization market and by significant investments in both acquisitions and operating expenses undertaken to diversify away from the core WAN optimization business. As a result, we believe the Companyís stock, prior to the filing of our 13D, meaningfully underperformed its peers and indices over nearly every significant time period... we believe that Elliott is uniquely situated to deliver maximum value to the Companyís stockholders on an expedited basis. Elliott is prepared to devote considerable resources to completing this transaction, and we are confident that with your cooperation we will be able to execute a definitive transaction agreement without delay."
News For RVBD From The Last 14 Days
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October 24, 2014
10:04 EDTRVBDRiverbed CEO seems much more willing to consider sale, says MKM Partners
After Riverbed's Q4 guidance missed expectations, MKM Partners said its talks with Chairman and CEO Jerry Kennelly made it seem that he is "much more willing" now to consider strategic options. MKM believes Riverbed is worth more as a private company and foresees its strategic review most likely leading to a sale to a pe firm, possibly in the $20-$24 range. The firm maintains its Neutral rating and $21 price target on Riverbed.
October 23, 2014
16:56 EDTRVBDRiverbed sees Q4 EPS 31c-33c, consensus 35c
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16:17 EDTRVBDRiverbed sees Q4 EPS 31c-33c, consensus 35c
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16:16 EDTRVBDRiverbed reports Q3 EPS 30c, consensus 30c
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15:30 EDTRVBDNotable companies reporting after market close
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October 22, 2014
13:14 EDTRVBDRiverbed up 3% after dealReporter says contacting buyers next week
Shares of Riverbed moved higher after dealReporter said the company is expected to start a sale process and contact potential buyers next week, according to its sources.
October 13, 2014
07:12 EDTRVBDRiverbed news already priced into stock, says JMP Securities
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