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Stock Market & Financial Investment News

News Breaks
January 14, 2014
08:46 EDTRVBDRiverbed holder Elliott urges engagement with Elliott, other interested buyers
Elliott Management Corporation, affiliates of which collectively own or have economic exposure to approximately 10.5% of the common stock and equivalents of Riverbed Technology, disclosed it sent a letter to the Board of Directors of Riverbed Technology reporting that Elliott has received "overwhelmingly supportive feedback from shareholders and equity analysts for the idea that Riverbed should fully explore Elliottís offer to acquire Riverbed, as well as the other acquisition interest that exists." Elliott added: "After speaking with a majority of Riverbedís shareholder base, the feedback highlights the following: Riverbed shareholders and equity analysts are strongly in favor of Riverbed initiating a process to explore the significant acquisition interest that exists from all parties, including Elliott; Riverbed is an excellent candidate for acquisition; shareholders and equity analysts were skeptical of Riverbedís ability to execute should Riverbed choose not to explore a sale and believed the stock would return to the $14-$15 range in such a scenario."
News For RVBD From The Last 14 Days
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October 28, 2014
07:27 EDTRVBDWilliam Blair 'puzzled' over NetApp acquisition
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October 27, 2014
16:03 EDTRVBDNetApp buys Riverbed's SteelStore product line for $80M
NetApp (NTAP) announced the acquisition of Riverbed Technology's (RVBD) SteelStore product line in an all-cash transaction for approximately $80M. he SteelStore product supports leading backup applications and cloud providers so that customers have a choice in how they extend their existing data protection infrastructure into the cloud. NetApp will offer enterprises cloud-integrated storage to securely and efficiently back up their data to both private and public cloud environments. NetApp expects that the SteelStore product will be available during its fiscal third quarter of 2015.
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.

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