Deals
Riverbed to Review Options Under Pressure From Elliot
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Riverbed Technology Inc., the target of a $21-a-share bid from activist investor Elliott Management Corp., said its board will review its strategic options as the computer-networking company starts a cost-cutting plan.
Riverbed has hired advisers to consider “strategic and financial alternatives to enhance shareholder value,” the San Francisco-based company said in a statement today. There’s no timetable for the review, Riverbed said, as it also announced a restructuring to reduce annual costs by $20 million to $25 million and improve operating margins.