Network equipment maker Riverbed Technology Inc is working with Goldman Sachs Group Inc to consider options including a sale of the company, Bloomberg reported citing people familiar with the matter. Riverbed - under pressure from activist hedge fund Elliott Management Corp - has attracted informal interest from private-equity firms for a leveraged buyout, the report said. ()Elliott Management, known for publicly agitating for a sale or a board shakeup in the companies in which it invests, had said Riverbed should conduct a strategic review.The hedge fund had also said it had economic exposure and voting power of about 10.4 percent in Riverbed.Riverbed had said it was focused on creating value for its shareholders and would continue to maintain an open dialogue with shareholders, including Elliott.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.03% or $0.05/share to $162.94. In the past year, the shares have traded as low as $113.88 and as high as $170.00. On average, 3202820 shares of GS exchange hands on a given day and today's volume is recorded at 3398263.
Riverbed Technology, Inc. (Riverbed) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs). Shares of RVBD traded higher by 8.3% or $1.46/share to $19.04. In the past year, the shares have traded as low as $13.77 and as high as $21.39. On average, 4132070 shares of RVBD exchange hands on a given day and today's volume is recorded at 8035158.
Source
