Deals
Riverbed Receives $3.08 Billion Takeover Bid From Elliott
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Riverbed Technology Inc. received a buyout offer from activist fund manager Elliott Associates LP, valuing the computer-networking company at more than $3 billion.
Elliott, which along with its affiliates owns about 10.5 percent of Riverbed, offered to pay $19 a share, according to a statement today, a 6.4 percent premium to the stock’s close yesterday. The shares jumped to $19.53 at 4 p.m. New York time, indicating that investors expect bids to rise.