Riverbed Receives Takeover Bid
SAN FRANCISCO -- Riverbed Technology (NASDAQ:RVBD), the leader in application performance infrastructure, today announced that it has received an unsolicited proposal from Elliott Management Corporation to acquire all outstanding shares of Riverbed for $19.00 per share in cash. Consistent with its fiduciary duties, and in consultation with its financial and legal advisors, Riverbed’s Board will review the offer and communicate its views in due course.
No assurance can be given that the Elliott proposal, or any other transaction, will be consummated. The Company does not intend to disclose developments regarding these matters unless and until its Board of Directors determines there is a material need to update the market.
As part of the commitment of the Riverbed Board and management to shareholders, the Board regularly reviews all options for generating and delivering value. The Board will review the Elliott proposal thoroughly, taking into account the Company's current strategic plan and growth initiatives.
Riverbed Technology Inc. (Nasdaq: RVBD)