NEW YORK--(BUSINESS WIRE)--Elliott Management Corporation (“Elliott”), which owns 6.2% of the common stock of Juniper Networks, Inc. (NASDAQ:JNPR) (“Juniper” or the “Company”), released a statement regarding its investment in Juniper.
“Elliott is extremely gratified by the absolutely overwhelming support we have received from fellow Juniper shareholders, sell-side analysts and the broader investing community for the Shareholder Value Plan we have urged Juniper to adopt,” said Jesse Cohn, Portfolio Manager at Elliott. “When we set out to suggest a plan for Juniper, we talked with fellow shareholders and leading analysts to develop a reasonable set of steps that could generate tremendous value. We also recruited a team of leading executives who are excited about Juniper and who have the operational skills and deep industry experience to help ensure that the Shareholder Value Plan becomes a reality. Elliott is entirely committed to seeing the plan through, and our commitment is such that we remain open to all paths to ensure its implementation. We have been pleased with our dialogue with the Company, and we were encouraged by Shaygan’s decision to position himself as a change agent on Juniper’s January 23rd earnings call. It is our strong preference to work collaboratively with Juniper to achieve the most important goal of ensuring implementation of a plan that is fully consistent with the specific value-maximizing steps outlined in the Shareholder Value Plan.”
The Shareholder Value Plan was developed based on feedback from Juniper’s shareholders and sell-side analysts and can be found at www.new-juniper.com.
Cautionary Statement Regarding Forward-Looking Statements
The information herein contains “forward-looking statements.” Specific forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and include, without limitation, words such as “may,” “will,” “expects,” “believes,” “anticipates,” “plans,” “estimates,” “projects,” “targets,” “forecasts,” “seeks,” “could,” “should” or the negative of such terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals are forward-looking. Our forward-looking statements are based on our current intent, belief, expectations, estimates and projections regarding the Company and projections regarding the industry in which it operates. These statements are not guarantees of future performance and involve risks, uncertainties, assumptions and other factors that are difficult to predict and that could cause actual results to differ materially. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.
About Elliott Management
Elliott’s two funds, Elliott Associates, L.P. and, Elliott International, L.P., together have more than $23 billion of assets under management. Founded in 1977, Elliott is one of the oldest hedge funds under continuous management. The Elliott funds’ investors include large institutions, high-net-worth individuals and families, and employees of the firm.