Hewlett Packard Enterprise (HPE) and Juniper Networks (JNPR) said Thursday they will "vigorously defend" their proposed deal in court following the US Justice Department's decision to file a lawsuit to block the $14 billion transaction on antitrust grounds.
"We believe the Department of Justice's analysis of this acquisition is fundamentally flawed and we are disappointed in its decision to file a suit attempting to prohibit the closing of the transaction," Hewlett Packard and Juniper Networks said in a joint statement.
In a complaint filed Thursday, the DoJ said the proposed deal would increase concentration in the wireless local-area network market and could potentially reduce competition.
Hewlett Packard and Juniper Networks said they would "vigorously defend" against the DoJ's "overreaching interpretation of antitrust laws."
The companies added that they remained fully committed to the deal and believed they would prevail in litigation.
Shares of Hewlett Packard fell 2.2%, while Juniper Networks declined 2.1% in recent trading.
Price: 21.18, Change: -0.48, Percent Change: -2.24
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