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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."
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