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
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
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
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.
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