Hewlett Packard Enterprise (HPE) is in late-stage talks to buy Juniper Networks (JNPR), with a deal possible as soon as this week, The Wall Street Journal reported Monday night. HPE stock jumped while Juniper soared.
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Cloud-services provider HP Enterprise could pay $13 billion for the networking firm, which also operates an artificial intelligence business, Mist AI.
HPE stock tumbled 7.7% to 16.36 in after-hours action. Shares had risen 3.2% to 17.72 in Monday’s regular session, clearing a 17.29 handle buy point from an awkward consolidation going back to early August.
JNPR stock spiked 22% overnight to 36.96. That would be the highest since a long-term peak in March 2022 of 38.14. Juniper stock rose 1% on Monday to 30.22, the highest close since July.
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Barbara Terrio is a seasoned business journalist, delving into the world of finance, startups, and entrepreneurship. With a knack for demystifying complex economic trends, she helps readers navigate the business landscape. Outside of her reporting, Barbara is an advocate for financial literacy and enjoys mentoring aspiring entrepreneurs.
