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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (2947)	10/18/2012 11:13:07 AM
From: richardred	Read Replies (1) \| Respond to of 7242

Juniper jumps on EMC buyout talk Silicon Valley / San Jose Business Journal by Cromwell Schubarth, Senior Technology Reporter Date: Thursday, October 18, 2012, 6:53am PDT - Last Modified: Thursday, October 18, 2012, 7:31am PDT Juniper Networks CEO Kevin Johnson isn't commenting on speculation that the company is up for sale and that EMC is a leading suitor. Juniper Networks stock soared more than 8 percent at the opening bell Thursday on reports that it may be seeking a buyer and that EMC is a leading suitor. The stock (NASDAQ:JNPR) rose above $18.80 a share in early trading on the talk, which first surfaced on Tuesday when the stock site Benziga reported that Juniper had hired JP Morgan to help with a sale. That report said the bidding was in the high 20s and that EMC (NYSE:EMC) was a possible buyer. Network World on Wednesday reported that Juniper's recently announced plans to cut 500 jobs may be part of preparations for a sale. The Sunnyvale networking equipment company and its CEO Kevin Johnson aren't talking, saying the company is in a quiet period leading up to its earnings report which is scheduled for Tuesday, and that it doesn't comment on speculation or rumors. But Investment firm ISI Group said in a recent report that data storage giant EMC should consider buying Juniper so that it can offer more services to cloud service providers. Such a move would put EMC and its majority-owned VMware unit even more squarely in competition with Cisco Systems, which it has partnered with in the past. The companies announced another new product together with Nimble Storage on Thursday. With Juniper in the fold, EMC and VMware may not need to include Cisco in such future offerings. Juniper's market cap has slid sharply in over the past year and a half, going from a high of more than $22 billion in March 2011 to about $9.6 billion now. bizjournals.com