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Hewlett Packard Enterprise (HPE) announced the acquisition of Juniper Networks in a $14bn deal. The deal will be an all-cash deal with HPE paying $40+share for Juniper, representing a 32% premium over Monday’s close price for the latter. Post the news, shares of Juniper jumped 22% to $37 at yesterday’s close. The transaction is expected to be funded using term loans, which will ultimately be replaced, in part, with a combination of new debt, mandatory convertible preferred securities, and cash on the balance sheet. HPE expects to close the deal by early 2025 and announced that Juniper CEO Rami Rahim will lead the combined operation post the deal completion. According to the statement released by HPE, the deal will help strengthen its position in accelerating macro-AI trends, and help bridge the AI-native and cloud-native worlds, while also generating significant value for shareholders.
HPE’s bonds traded stable with its 5.25% 2028s at 101.6 cents on the dollar, yielding 4.8%
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