Deal Flow
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Transaction tear sheetData as of Nov 7, 2026
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

  1. AnnouncedJan 9, 2024
  2. Proxy filedFeb 7, 2024
  3. Definitive proxyFeb 26, 2024
  4. Shareholder voteApr 2, 2024
  5. 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%.

Sources
  • 8-K (EX-99) · Jan 10, 2024
  • 8-K · Jan 10, 2024
  • DEFA14A · Jan 10, 2024

Adj. EBITDA is operating income + D&A + impairment, restructuring, deal costs and stock compensation, less any large gain on a sale, last twelve months, from the target's filings. Calculated by Castle, so it can differ from a bank's adjusted figure.

Prepared with Castle from public SEC EDGAR filings. Figures are extracted automatically; verify against the source documents. Not investment advice.