Hemmed In By Activist Funds, Juniper Unveils Buyback, Other Goodies

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...