Hewlett Packard (HPE) Surges 11% as it Moves Forward With $14-Billion Juniper Acquisition
Hewlett-Packard rose for a second day on Monday, adding 11.08 percent to close at $20.45 apiece as investors cheered the settlement of its legal battle with the Justice Department over its $14 billion acquisition of Juniper.
To recall, the Justice Department sued Hewlett Packard Enterprise Company (NYSE:HPE) in January this year to block its acquisition of Juniper, saying that it was anti-competitive, would eliminate competition, raise prices, and reduce innovation.
The settlement, which remains subject to court approval, would force Hewlett Packard Enterprise Company (NYSE:HPE) to divest its global Instant On campus and branch business.
A woman programmer in a modern office working with multiple computer servers.
It would also facilitate limited access to Juniper's advanced Mist AIOps technology upon closing of the transaction.
'Our agreement with the DOJ paves the way to close HPE's acquisition of Juniper Networks and preserves the intended benefits of this deal for our customers and shareholders, while creating greater competition in the global networking market,' said Hewlett Packard Enterprise Company (NYSE:HPE) President and CEO Antonio Neri.
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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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