Elliott Management Offers To Acquire Riverbed Technology For $19/Shr

(RTTNews) - Riverbed Technology (RVBD) Wednesday said Elliott Management has put forward a proposal to Riverbed for an all-cash offer of $19.00 per share.

The offering price represents a premium of 29 percent over the company's unaffected stock price of $14.70 prior to our significant acquisition of stock, 26 percent over the company's stock price as of the date Elliott filed its Schedule 13D in November.

According to Elliot, the price represents a premium of 6 percent over the company's current market value, which has been substantially inflated by the significant attention Elliott's 13D filing has generated in both public and private settings.

A draft merger agreement that contemplates a "go shop" provision has been included in the filings, thereby allowing the Board to solicit competing proposals for a period following execution of our agreement.