Riverbed Spurns Sweetened $3.4B Elliott Buyout Bid

Law360, New York (February 28, 2014, 11:10 AM EST) -- Riverbed Technology Inc. on Friday spurned a sweetened $3.36 billion bid from New York hedge fund Elliott Management Corp., saying growth plans devised in-house offer more lucrative prospects for the computer equipment company's shareholders.

The California company's rejection came just days after Elliott, one of the year's busiest activists, unveiled its revised bid. Riverbed had already brushed off a $3.1 billion approach from Elliott in January, widely seen as the hedge fund's stab at setting a floor price for the company ahead of an anticipated bid...
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