Hedge fund Elliott takes stake in "undervalued" Riverbed
Nov 8 (Reuters) - An affiliate of activist hedge fund Elliott Management Corp disclosed a 5.8 percent stake in Riverbed Technology Inc, a network equipment maker it said was "significantly undervalued".
The company's shares rose more than 7 percent in premarket trading on Friday.
Elliott International, an affiliate of the hedge fund founded and run by publicity-shy Paul Singer, said Riverbed should implement "value-maximizing operational, capital structure and strategic review initiatives".
Elliott International said it had conveyed its view to Riverbed's board and looked forward to a constructive dialogue.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Saumyadeb Chakrabarty)