Elliott Raises Bid For Riverbed Technology To $3.3B

Law360, New York (February 25, 2014, 6:10 PM EST) -- Activist hedge fund Elliott Management Corp. on Tuesday raised its bid for Riverbed Technology Inc., a maker of computer-networking equipment, to more than $3.3 billion in an aggressive push to induce Riverbed to sell after it rejected Elliott’s initial $3.1 billion takeover bid last month.

In a letter to Riverbed’s top brass on Tuesday, New York-based Elliott offered to pay $21 per share in cash — which is up from the $19 per share it offered for Riverbed last month — and criticized Riverbed’s board of...
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