New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 11, 2014
12:22 EDTRVBDElliott urges Riverbed to allow all interested buyers to conduct due diligence
Elliott Management, affiliates of which collectively own or have economic exposure to approximately 10.5% of the common stock and equivalents of Riverbed Technology, issued a public response to what it called "a series of grossly misleading statements" made last week by executives of Riverbed. Jesse Cohn, portfolio manager at Elliott, said, “By publicly denying the buyer interest that has been expressed to the Company and by comparing the value of Elliott’s bid to a false reality, Riverbed’s Management and Board have crossed a line from failing shareholders to actively misleading them as well... The clear and correct path forward is for the Board to stop misleading shareholders and instead allow all interested buyers, including Elliott, to conduct diligence with an eye toward exploring a value-maximizing transaction.” Elliott also noted it has filed a presentation by investment bank Moelis & Company, which "validates the attractiveness" of Elliott’s $21-per-share bid for Riverbed.
News For RVBD From The Last 14 Days
Check below for free stories on RVBD the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 12, 2014
20:39 EDTRVBDRiverbed announces developments in litigation with Silver Peak
Subscribe for More Information
20:35 EDTRVBDJudge upholds infringement verdict against Riverbed in favor of Silver Peak
Subscribe for More Information
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
Subscribe for More Information
12:39 EDTRVBDElliott says Riverbed board not interested in working with shareholders
Subscribe for More Information
08:33 EDTRVBDRiverbed affirms commitment to corporate governance enhancements
Subscribe for More Information
08:31 EDTRVBDRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
Subscribe for More Information
September 3, 2014
12:22 EDTRVBDRiverbed sees more opportunity than risk in Russia
Subscribe for More Information
12:17 EDTRVBDRiverbed sees Q3 as a strong performing quarter in the government vertical
Comments made at the Citi Global Technology Conference.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use