Riverbed Technology Inc. Spikes On Reported Start Of 'Sales Process'

Riverbed Technology Inc.

spiked Wednesday after a Website said the company is seeking suitors. The San Francisco-based is expected to start a sale process and contact potential buyers next week, according to an item said to be published by dealReporter. Riverbed said Oct. 9 that it it will review strategic and financial alternatives, with no timetable for the process. https://www.sec.gov/Archives/edgar/data/1357326/000135732614000021/a2014q3prelimearningsexhib.htm On the same day Eric Mindich's Eaton Park Capital fund said it had made a $21 a share bid for Riverbed, and "looks forward to completing our confirmatory diligence in an expedited fashion.” Eton recently boosted its stake in Riverbed Technology to a 5.6 percent stake or 9 million shares from 2.95 million share. https://www.sec.gov/Archives/edgar/data/1314588/000090266414003926/p14-1942sc13g.htm RIverbed rejected an earlier $21 a share offer from the hedge fund Elliott Management in February, calling it inadequate. Since rejecting the earlier offer, Riverbed shares are down more than 5 percent. In afternoon trading Wednesday, Riverbed gained 2.7 percent to $18.40 a share.