DOJ sues to block Hewlett Packard Enterprise’s $14 billion Juniper deal
CNN
The US Department of Justice has sued to block Hewlett Packard Enterprise’s $14 billion deal to acquire networking gear maker Juniper Networks, arguing that it would stifle competition, according to a complaint filed on Thursday.
The US Department of Justice has sued to block Hewlett Packard Enterprise’s $14 billion deal to acquire networking gear maker Juniper Networks, arguing that it would stifle competition, according to a complaint filed on Thursday. Shares of both the server maker and Juniper Networks fell more than 3% in afternoon trading. The antitrust lawsuit marks the first since President Donald Trump took office last week. The DOJ argued that the acquisition would eliminate competition and would lead to only two companies — Cisco Systems and HPE — controlling more than 70% of the US market for networking equipment. More than a year ago, the server maker said that it would buy Juniper Networks for $14 billion in an all-cash deal, as it looks to spruce up its artificial intelligence offerings. The companies said in a joint statement that they would defend the deal, arguing that the acquisition will bring together two complementary networking offerings to better compete with global incumbent players. “Juniper has also introduced innovative tools that have materially decreased the cost of operating a wireless network for many customers. This competitive pressure has forced HPE to discount its offerings and invest in its own innovation,” the DOJ said in its complaint.
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