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So what: Benzinga questionably reported that a bid in the high $20's was on the table, and storage specialist EMC (NYS: EMC) was a potential suitor. It was highly dubious from the get-go, considering the implied size of the deal. Juniper currently trades with nearly a $9 billion market cap before any premium.
Now what: With EMC CEO Joe Tucci's upcoming retirement, it wouldn't make much sense for him to pursue such a large and risky acquisition (it would have been EMC's biggest ever), because he's on his expected way out the door within a matter of years. Additionally, Juniper doesn't have much exposure to data centers, further questioning the synergies it could have with EMC. Neither company officially commented, but a source told Reuters that the report was bogus.
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The article Why Juniper Networks Shares Soared originally appeared on Fool.com.
Evan Niu, CFA has no positions in the stocks mentioned above. The Motley Fool owns shares of EMC and JPMorgan Chase & Co. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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