Real D Shares Soar on Bid from Starboard Value

On Wednesday, Starboard Value LP announced it has offered $12 per share for the remaining shares of RealD Inc.

, an offer which values the firm in the ballpark of $540 million. Following the announcement, shares of RealD shot up as much as 26 percent in the extended trading hours. RealD responded to the offer stating, "RealD is always open to constructive discussions about opportunities to increase stockholder value. The Company will continue to take actions it believes are in the best interest of all RealD stockholders." The company also noted that its board of directors is currently in consultation with advisers to evaluate the offer. At last check, RealD share were trading at $11.45, up ~25 percent from Wednesday's close.