Source Pravda.Ru

Packeteer Inc rejects bid offered by Elliott Associates LP

Hedge fund Elliott Associates LP received Tuesday a buyout bid rejection from Packeteer Inc.

Elliott Associates offered $200.8 million that was 42.5 percent more than Packeteer’s closing stock price of $3.86 per share.

“A certainly good price for Packeteer” is shaded by the company’s interest in offers made by other parties.

Elliott Associates is still interested in Packeteer Inc and remains prepared to negotiate a consensual deal.

Photo: www.answers.com

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