EU Approves Hewlett Packard Enterprise’s $14 Billion Acquisition of Juniper Networks
EU Commission Gives Unconditional Approval
The European Commission has given the green light to Hewlett Packard Enterprise's (HPE) proposed acquisition of Juniper Networks for $14 billion.
No Competition Concerns
The Commission's decision was based on its finding that the deal would not raise any competition concerns in the European Economic Area. The Commission noted that the two companies have complementary product portfolios and that the combined entity would not have a dominant position in any of the relevant markets.
Transaction Details
The deal is expected to close in the second half of 2023. HPE will acquire all of Juniper's outstanding shares for $33.25 per share in cash. The transaction has already been approved by the shareholders of both companies.
Strategic Rationale
HPE believes that the acquisition of Juniper will strengthen its position in the enterprise networking market. Juniper is a leading provider of networking equipment, including routers, switches, and security appliances. HPE believes that the combined company will be able to offer a more comprehensive portfolio of networking solutions to its customers.
Impact on the Industry
The acquisition of Juniper is a significant development in the enterprise networking market. It is expected to create a new leader in the industry with a broad portfolio of products and solutions. The deal is also likely to intensify competition in the market, as HPE and Juniper are both major players.
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