Hedge fund Elliott Management increased its offer for network gear maker Riverbed Technology Inc to $21 per share from $19 and said it would not increase the offer "in the absence of private diligence".The new offer values Riverbed at about $3.36 billion.The company rejected the earlier $3.08 billion offer on Jan. 15. (Reporting By Aditya Kondalamahanty in Bangalore; Editing by Saumyadeb Chakrabarty)
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 5.04% or $1.0/share to $20.85. In the past year, the shares have traded as low as $13.77 and as high as $21.12. On average, 2250460 shares of RVBD exchange hands on a given day and today's volume is recorded at 3498043.
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