Elliott Management Seeks More Board Seats at Juniper

Activist hedge fund group, Elliott Management, is turning up the pressure on Juniper Networks, Inc. (NYSE:JNPR).  The hedge fund led by Paul Singer, began pressing Juniper earlier in the year, back in January, when it held 6.2% ownership in the company.  In January, Elliot Management made the case that Juniper Networks is “undervalued” and certainly has been stuck in a sideways range for many years.  Singer’s hedge fund saw opportunity to get the company back on track by refocusing on a core business of routers and switches for mobile network providers.  In addition, Elliott suggested a $3.5 billion buyback plan and efforts to get Juniper to begin paying a dividend, something the 18 year old company has never...