M&A · Tech · Computer Communications Equipment
Hewlett Packard Enterprise Co to acquire Juniper Networks Inc
Announced Jan 9, 2024 · Closed Jul 2, 2025
Deal value$14.00BEV $14.35B
Premium32.0%To unaffected price
EV / Adj. EBITDA13.0x2.5x EV / Revenue
ConsiderationAll cash$40.00 per share
Transaction
- Acquirer
- Hewlett Packard Enterprise Co (HPE)
- Target
- Juniper Networks Inc (JNPR)
- Buyer type
- Strategic
- Offer price per share
- $40.00
- Enterprise value
- $14.35B
- Status
- Closed Jul 2, 2025
Deal protections
- Break fee (target pays)
- $408M · 2.9%
- Reverse fee (buyer pays)
- $815M · 5.8%
- Go-shop
- —
- Financing
- Committed · Citigroup, JPMorgan, Mizuho, Goldman Sachs
Advisors
- To the acquirer
- Not disclosed
- To the target
- Goldman Sachs
Sector context · Tech
- Comparable deals
- 57 in the prior 24 months
- Premium
- 32.0% vs. 46.0% sector median
- EV / Adj. EBITDA
- 13.0x vs. 17.1x sector median
- Break fee
- 2.9% vs. 3.0% sector median
Timeline
- AnnouncedJan 9, 2024
- Proxy filedFeb 7, 2024
- Definitive proxyFeb 26, 2024
- Shareholder voteApr 2, 2024
- ClosedJul 2, 2025
Valuation · fairness opinions
Discounted cash flow$37.05$55.79
Trading comparables$34.16$46.33
Premiums paid$36.26$45.33
Offer $40.00
Implied value per Juniper Networks Inc share by analysis, from Goldman Sachs · DCF discount rate 7.75%–9.75%.