Market Overview

Benzinga's M&A Chatter for Tuesday February 25, 2014

The following are the M&A deals, rumors and chatter circulating on Wall Street for Tuesday February 25, 2014:

Elliott Raises Bid for Riverbed Technology to $21.00/Share in Cash

The Offer:
Elliott Management sent a letter to the Board of Directors of Riverbed Technology (NASDAQ: RVBD) on Tuesday, raising its bid to to acquire all of the outstanding common stock of the network infrastructure company for $21.00 per share in cash. Elliott's previous offer had been $19.00 per share.

Riverbed acknowledged receipt of the offer and will review it.

Riverbed Technology closed Tuesday at $20.66 a gain of 4%.

Rumor Tencent Bidding for NQ Mobile

The Rumor:
Shares of NQ Mobile (NYSE: NQ) rose Tuesday on unconfirmed market chatter of a potential bid from Tencent (OTC: TCEHY). Heavy volume in the March $24 call may have contributed to the rumor.

Spokespersons for NQ Mobile and Tencent were not immediately available for comment.

NQ Mobile closed Tuesday at $19.8, a gain of 1%.

Encore Capital Acquires 51% Stake in Refinancia

The Deal:
Encore Capital (NASDAQ: ECPG) announced Tuesday that it has taken a 51% stake in debt purchaser Refinancia. Encore acquired the stake in December 2013.

Encore Capital closed Tuesday at $49.46, a gain of $0.24.

Posted-In: News Rumors M&A Movers

 

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