Juniper Networks Sinks After Report DOJ Leaning Toward Blocking HPE Deal
Juniper Networks (NYSE:JNPR) dropped 6.5% in premarket trading after a report that the Dept. of Justice may be more inclined to file a lawsuit to block its planned $14 billion sale to Hewlett Packard Enterprise (HPE).
Hewlett Packard Enterprise (HPE) is scheduled to meet with DOJ on Tuesday to discuss the deal as the regulator appears to be leaning toward a lawsuit to block the transaction, according to traders, who cited a Capitol Forum report from late Monday.
HPE said last month that both companies were working with the DOJ as the agency continued its review of the deal, which is expected to close in the early part of 2025.
The companies agreed not to close the deal while the DOJ continues its review through Donald Trump's inauguration, it was reported last month. The deal received approval from the European Union in late July.
Juniper Networks (NYSE:JNPR) dropped 5% on Nov. 15 amid reports that the DOJ was deciding whether to clear or block the deal and had held a meeting where the companies were trying to save the deal.
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