Elliott Bears Down On $3B Riverbed Offer, Urges Auction

Law360, New York (January 14, 2014, 11:55 AM EST) -- Despite a busy week, hedge fund Elliott Management Corp. confirmed Tuesday that it remains focused on Riverbed Technology Inc., a California company it offered to take private for $3.1 billion but believes should pursue an auction that likely would yield a heftier bid.

In a letter to Riverbed's management, New York-based Elliott pressed the computer-networking equipment maker to either approve its $19-per-share takeover or start vetting other bidders. The investor said the company's stock could plunge to the $14-to-$15 range if its leadership doesn't act fast...
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