Jana enters the fray at Juniper with large stake

|About: Juniper Networks (JNPR)|By:, SA News Editor

Jana Partners has built up a large stake in Juniper Networks (JNPR) and become the second activist investor to buy into the company.

In a letter to shareholders, Jana didn't reveal the size of its holding in Juniper but said it is now one of the network-equipment firm's biggest shareholders.

Jana wants Juniper to cut $300M in costs and start paying dividends, demands echoing those made by Elliot Management. The latter, which has disclosed a 6.2% interest in Juniper, also wants the company to repurchase stock.

Jana's disclosure comes after Juniper yesterday reported Q4 earnings that beat consensus. On the company's earnings call, new CEO Shaygan Kheradpir said it will review costs and look at returning money to shareholders.