Activist hedge funds notched up another victory yesterday when network equipment maker Juniper Networks, Inc. (NYSE:JNPR) made a slew of announcements designed to please shareholders.
Succumbing to demands from Paul Singer controlled hedge fund Elliott Management Corp, Juniper Networks, Inc. (NYSE:JNPR) announced yesterday an Integrated Operating Plan that included an ‘aggressive’ plan to return at least $3B in capital to shareholders, including over $2B in share buybacks through Q1 2015. [See Elliott Management’s presentation on Juniper here].
The plan also includes payment of $0.10 per share as a quarterly dividend starting Q3 2014, an amount...
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