Goldman Sachs Could Be Working With Riverbed To Consider Possible Strategic Options

Shares of Riverbed Technology

surged more than $1.50 just a few minutes ahead of the closing bell Wednesday following a Bloomberg report suggesting the company has hired Goldman Sachs in order to consider a possible sale. The stock closed up more than 8 percent. Bloomberg's source said Riverbed is garnering informal attention from a number of PE firms about a possible leveraged buyout. Further details on the chatter are sparse. Riverbed shares rallied more than 16 percent on Friday of last week on the heels of a 13D filing from Elliott Associates which showed a 10.4 percent stake in the company. With the stock trading around $19.10 in Wednesday's post-market session, shares of Riverbed have surged more than 25 percent over just the last four trading sessions.