Elliott Responds to Riverbed

  Elliott Responds to Riverbed

Business Wire

NEW YORK -- February 28, 2014

Elliott Management Corporation (“Elliott”) issued the following statement in
response to Riverbed’s (NASDAQ: RVBD) refusal of its offer to acquire all of
the outstanding shares of common stock of Riverbed for a price of $21.00 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
Technology, Inc., is a multi-strategy investment firm with deep experience
investing in public and private companies.

The statement is as follows:

"Riverbed's Board has again failed shareholders. By rejecting our offer of $21
per share without so much as a discussion, and by refusing to grant Elliott
and other interested buyers access to diligence, Riverbed’s Board has clearly
chosen entrenchment over shareholder value. Shareholders should be outraged
that the Board is not acting in a manner consistent with its fiduciary
obligations. The clear and correct path forward for the Company is to engage
in a dialogue with Elliott and other interested buyers so that we can conduct
expedited diligence toward exploring a value-maximizing transaction.”

Cautionary Statement Regarding Forward-Looking Statements

The information herein contains “forward-looking statements.” Specific
forward-looking statements can be identified by the fact that they do not
relate strictly to historical or current facts and include, without
limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,”
“plans,” “estimates,” “projects,” “targets,” “forecasts,” “seeks,” “could,”
“should” or the negative of such terms or other variations on such terms or
comparable terminology. Similarly, statements that describe our objectives,
plans or goals are forward-looking. Our forward-looking statements are based
on our current intent, belief, expectations, estimates and projections
regarding the Company and projections regarding the industry in which it
operates. These statements are not guarantees of future performance and
involve risks, uncertainties, assumptions and other factors that are difficult
to predict and that could cause actual results to differ materially.
Accordingly, you should not rely upon forward-looking statements as a
prediction of actual results and actual results may vary materially from what
is expressed in or indicated by the forward-looking statements.

About Elliott Management Corporation

Elliott Management Corporation manages two multi-strategy hedge funds which
combined have more than $23 billion of assets under management. Its flagship
fund, Elliott Associates, L.P., was founded in 1977, making it one of the
oldest hedge funds under continuous management. The Elliott funds' investors
include pension plans, sovereign wealth funds, endowments, foundations,
funds-of-funds, high net worth individuals and families, and employees of the
firm.

Contact:

For Media Inquiries:
Sloane & Company
Elliot Sloane, 212-446-1860
Esloane@sloanepr.com
or
Alexandra Meredith, 212-446-1887
Ameredith@sloanepr.com
 
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