Elliott Mgmt Issues Update on Juniper: Says Fully Committed to Seeing Plan Adopted, Has Overwhelming Support for Holder Value Plan
Elliott Management Corporation (“Elliott”), which owns 6.2% of the common stock of Juniper Networks, Inc. (NASDAQ: JNPR) (“Juniper” or the “Company”), released a statement regarding its investment in Juniper.
“Elliott is extremely gratified by the absolutely overwhelming support we have received from fellow Juniper shareholders, sell-side analysts and the broader investing community for the Shareholder Value Plan we have urged Juniper to adopt,” said Jesse Cohn, Portfolio Manager at Elliott. “When we set out to suggest a plan for Juniper, we talked with fellow shareholders and leading analysts to develop a reasonable set of steps that could generate tremendous value. We also recruited a team of leading executives who are excited about Juniper and who have the operational skills and deep industry experience to help ensure that the Shareholder Value Plan becomes a reality. Elliott is entirely committed to seeing the plan through, and our commitment is such that we remain open to all paths to ensure its implementation. We have been pleased with our dialogue with the Company, and we were encouraged by Shaygan's decision to position himself as a change agent on Juniper's January 23^rd earnings call. It is our strong preference to work collaboratively with Juniper to achieve the most important goal of ensuring implementation of a plan that is fully consistent with the specific value-maximizing steps outlined in the Shareholder Value Plan.”
The Shareholder Value Plan was developed based on feedback from Juniper's shareholders and sell-side analysts and can be found at www.new-juniper.com.
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