Riverbed Technology Inc. has received no “credible” bids from buyout firms and shouldn’t have been targeted by activist shareholders, Chief Executive Officer and Chairman Jerry Kennelly said in an interview.
Riverbed Technology Inc., the network-equipment maker being pushed to sell itself by an activist investor, has received interest from private-equity firms above the $21 a share offer it rejected yesterday, people with knowledge of the situation said.
Huawei Technologies Co., the world’s third-largest smartphone maker, forecast it will sell as many as 100 million smartphones this year, nearly twice the 2013 level, as it focuses on higher-end devices rivaling Apple Inc.’s or Samsung Electronics Co.
Activist investment firm Elliott Management Corp. boosted its offer to buy Riverbed Technology Inc. by 11 percent to $21 a share, or $3.36 billion, after the network-equipment maker rejected an earlier bid as too low.
Huawei Technologies Co., China’s biggest smartphone maker, unveiled its first smart bracelet while Samsung Electronics Co. introduced wristwatches based on its Tizen operating system at the Mobile World Congress.
Juniper Networks Inc. shareholder Elliott Management Corp., which is pushing for changes at the network-equipment maker, said it has the “overwhelming” support of investors for its cost-cut and stock-buyback plans.