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 the company indicated it would like…
Hemmed In By Activist Funds, Juniper Unveils Buyback, Other Goodies
HFA Staff
The post above is drafted by the collaboration of the Hedge Fund Alpha Team.