Sunday, 28 December 2014
Last updated 3 days ago
Apr 15 2014 | 10:49am ET
A month after Riverbed Technology rejected its richer offer, Elliott Management is standing pat—for now.
The hedge fund said it remained "extremely interested" in buying the networking equipment maker. But it stuck to the $3.36 billion offer it made in February, and that Riverbed rejected as too low last month.
Elliott said it would consider another increase in the $21 per share offer, but only if it is given access to Riverbed's books. In March, Elliott criticized the company for refusing to allow potential buyers to do due diligence.
"Shareholders clearly still expect that the board will eventually do the right thing by engaging with Elliott and other potential buyers, but unfortunately our repeated requests for access to diligence materials have been ignored," Elliott's Jesse Cohn said.
Elliott owns about 10.5% of Riverbed.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.