Saturday, 30 August 2014
Last updated 1 day ago
Feb 26 2014 | 11:56am ET
Elliott Management has increased its offer for Riverbed Technologies by more than 10%.
The activist hedge fund boosted its bid to $21 per share, up from $19, valuing the new offer at more than $3.3 billion. But it said it would not increase the offer until Riverbed allowed it to conduct due diligence—and criticized the networking equipment maker for refusing to put itself up for sale.
Indeed, Elliott does not really want to buy Riverbed itself. It hopes it can force the company to listen to the much higher offers it says have been made for the company.
"We believe shareholders, the actual owners of the company, should be outraged by the board's behavior," Elliott's Jesse Cohn wrote. "This behavior is inconsistent with the fiduciary responsibilities of a public company board, whose obligation is to maximize value for stockholders."
Riverbed, which rejected Elliott's lower offer last month, said it would review the new bid.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...