Juniper Networks gains on vague takeover speculation (update)

Aug. 25, 2022 2:57 PM ETJuniper Networks, Inc. (JNPR)By: Joshua Fineman, SA News Editor2 Comments

Juniper Networks Building

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Update 2:58pm: Updates shares, adds company comment.

Juniper Networks (NYSE:JNPR) rose 6% on some vague takeover speculation.

Gordon Haskett speculated in a note that it's possible that Juniper CEO Rami Rahim is getting restless, as potentially evidenced by his decision to take his first outside board seat. In addition, Rahim, who has been the CEO since the end of 2014, appeared to promote a successor 13 months ago. Recall last July, JNPR named Manoj Leelanivas as its chief operating officer.

Juniper may potentially be viewed as a strategic takeover target, especially if it appears its CEO may be headed out the exit door, the note suggested.

A Juniper (JNPR) spokeswoman told Seeking Alpha the company has a policy of not commenting on rumors or speculation. She added that "Juniper’s CEO, Rami Rahim, is committed to executing against our ongoing strategy to create long-term shareholder value and an inclusive and diverse employee culture."

TO BE CLEAR: The Thursday report doesn't say that suitors may be looking at Juniper (JNPR) as what appears to have been circulated on social media. In addition, the company announced on Thursday that Rahim is scheduled to present at the Citi Global Technology Conference on Sept. 7.

Recall, there was some vague speculation last August about potential activist interest in Juniper (JNPR).

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