https://seekingalpha.com/news/4295465-juniper-networks-fall-amid-speculation-on-doj-review-of-hpe-deal
Juniper Networks (NYSE:JNPR) dropped 5% amid some reports about the Dept. of Justice's review of its planned $14 billion planned sale to Hewlett Packard Enterprise (HPE).
The DOJ is said to be deciding on whether to clear the deal or block it as soon as next week, according to traders, who cited a Capitol Forum report that circulated on Friday, which sources described as a "close call" for DOJ leadership.
An HPE corporate jet was spotted in DC last night, according to a note that was circulating among traders on Friday. This may have some investors concerned that the DOJ is meeting with HPE about the Juniper (JNPR) deal. It's important to note that HPE has a large office in Herndon, Virginia, which is close to Dulles airport.
The speculation also comes after a CTFN report on Monday indicated that the company and HPE recently participated in front-office meetings with the DOJ. In addition, Juniper (JNPR) shares edged lower by 0.8% on Tuesday after the DOJ filed a lawsuit to block UnitedHealth's (UNH) planned $3.3 billion acquisition of Amedisys (AMED).
“We are working through the regulatory requirements and filing for review in relevant jurisdictions around the world," an HPE spokesperson told CTFN on Monday. "We continue to expect to close the deal in late calendar year 2024 or early calendar year 2025.”
In April, Juniper's shareholders approved the deal. HP Enterprise announced in January that it was acquiring Juniper for $40 per share in cash. The deal received approval from the European Union in late July.