Riverbed Technology, the San Francisco-based network infrastructure maker, is relying on Sard Verbinnen & Co as it fends off a $3.2B hostile bid from hedge fund Elliott Management Corp.
New York-based Elliott, which works with Sloane & Commpany for PR, went public with a letter to Riverbed on Jan. 14, urging one of two paths: explore Elliott's offer or any other interest, or publicly reject the takeover offer and any others.
Riverbed on Jan. 15 said its board unanimously rejected Elliott's unsolicited $19-per-share bid because it undervalues the company and was not in the best interest of shareholders. The company said its board will review any "credible" offer for acquisition, however. Announcing Q4 results the same day, Riverbed reported revenue around $285M, ahead of expectations.
John Christiansen, managing director of Sard's San Francisco office, and Michael Henson, managing director in New York, are advising Riverbed.
Elliot Sloane, CEO of Sloane & Company, counsels Elliott Management.
Sard, Sloane Work $3.2B Riverbed Technology Showdown
Wed., Jan. 15, 2014
By Greg Hazley
Category: Financial PR & Investor Relations
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