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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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January 29, 2015
16:12 EDTRVBDRiverbed reports Q4 EPS 34c, consensus 32c
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15:37 EDTRVBDNotable companies reporting after market close
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January 20, 2015
16:54 EDTRVBDRiverbed board recommends holders vote for adoption of merger with Thoma Bravo
On December 15, 2014, Riverbed Technology announced that it entered into a definitive agreement to be acquired by leading private equity investment firm Thoma Bravo, LLC and Teachersí Private Capital, the private investor department of Ontario Teachersí Pension Plan.

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