Elliott Lobs $3B Go-Private Bid At Tech Co. Riverbed

Law360, New York (January 8, 2014, 12:47 PM EST) -- Elliott Management Corp. on Wednesday lobbed a $3.08 billion take-private proposal at Riverbed Technology Inc., the maker of computer networking equipment, taking a firmer stance on the California company's future after amassing a sizable minority stake.

Under the terms of the offer, Riverbed stockholders would receive a $19-per-share payout — a 29 percent premium over the company's trading price in early November, before Elliott unveiled it had taken a position and would jostle for strategic changes.

The New York hedge fund has a 10.5 percent Riverbed...
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