Hedge Fund News From HedgeCo.Net

Elliott readies own director slate as Juniper finalizes turnaround plan -sources

Reuters – Hedge fund Elliott Management Corp, which owns a 6.2 percent stake in Juniper Networks Inc , has prepared a slate of directors in the event that the network equipment maker’s pending turnaround plan does not achieve goals laid out by the activist investor, people close to the matter said.

Elliott, which in January urged Juniper to return cash to investors, consider cutting costs and conduct a strategic review of its product portfolio, said in a statement on Monday that it has recruited a team of leading executives who have the “operational skills” and “deep industry experience” to make its plan a reality.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated. Bookmark the permalink.

Leave a Reply