“The proposed combination pertains to the acquisition by Hewlett Packard Enterprise Company (HPE) of 100 per cent of the outstanding shares of, and sole control over, Juniper Networks, Inc.
“The proposed combination is to be carried out by way of a reverse triangular merger through which Jasmine Acquisition Sub, Inc. (a wholly-owned subsidiary of HPE) will merge with and into Juniper, such that Juniper will be the surviving entity and will become a wholly-owned subsidiary of HPE,” CCI said in a release.
Juniper is a multinational networking technology company which provides networking, infrastructure, security, and other related solutions (hardware and software) to customers in multiple industries.
It designs, develops and sells networking products and services including routing, switching, wireless, network security and associated services.
The Competition Commission of India (CCI) said it has cleared the deal.
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In January this year, HPE and Juniper Networks, announced that the companies have entered a definitive agreement under which HPE will acquire Juniper in an all-cash transaction for approximately USD 14 billion.
The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.
