TECH - Juniper Networks Surges Over 20% As Hewlett Packard Enterprise reportedly Nears $13B Acquisition Deal | Benzinga
In a potentially game-changing move, Hewlett Packard Enterprise Co (NYSE:HPE) is reportedly in advanced discussions to acquire networking equipment competitor Juniper Networks, Inc. (NYSE:JNPR). This news has prompted a surge in Juniper’s stock.
What Happened: HP might be on the verge of acquiring Juniper Networks, in a deal possibly worth around $13 billion. The announcement could be made as early as this week, according to The Wall Street Journal.
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An email sent by Benzinga to Juniper Networks and Hewlett Packard Enterprise seeking comment didn’t elicit any response till the time of publishing this story.
Juniper, a leading competitor to Cisco Systems Inc (NASDAQ:CSCO) in the network equipment market, had a challenging time last year. Its stock fell by about 8% in 2023, while the Nasdaq Composite and HPE saw increases of 43% and nearly 10% respectively. The acquisition would ...