Juniper Networks, Inc. (JNPR)

[eastunder]

Juniper Networks Comments on Elliott's 13D Filing
Date : 01/13/2014 @ 6:16PM
Source : Marketwired

SUNNYVALE, CA--(Marketwired - Jan 13, 2014) - Juniper Networks (NYSE: JNPR) the industry leader in network innovation, today commented on the filing of a Schedule 13D made by Elliott Management Corp. ("Elliott") stating that Elliott-related funds beneficially own 6.2% of Juniper in stock and options.
The Company issued the following statement:

Juniper welcomes open communications with its shareholders and values their input.

Juniper continues to deliver improved financial and operational performance as evidenced by five consecutive quarters of year-over-year revenue growth and our continued efforts to streamline the Company's cost base. We have a proven record of generating and returning cash to shareholders having returned approximately 105% of Juniper's free cash flow to shareholders in the last three years (fourth quarter of 2010 through third quarter of 2013) representing a total return of approximately $1.7 billion. Juniper continues to focus on returning capital to our shareholders. We believe Juniper has an innovative and robust product portfolio and is well positioned to deliver enhanced shareholder value and we are optimistic about the growth opportunities in the key markets we serve.

The Elliott presentation was received this morning and we have not had any discussions with Elliott with respect to its content. The Company intends to review it carefully.

Wilson Sonsini Goodrich & Rosati is acting as Juniper's legal counsel and Goldman, Sachs & Co. is acting as financial advisor.