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Elliot raises offer for Riverbed to $21 per share

Feb 25 (Reuters) - Hedge fund Elliott Management increased its offer for network gear maker Riverbed Technology Inc to $21 per share from $19 and said it would not increase the offer "in the absence of private diligence".

The new offer values Riverbed at about $3.36 billion.

The company rejected the earlier $3.08 billion offer on Jan. 15.