Jana Echoes Elliott On Juniper

Jan 28 2014 | 1:12am ET

A second activist hedge fund is taking aim at Juniper Networks.

Jana Capital has called on the computer networking company to cut costs and return capital to investors. The hedge fund warned that it believes "the board would benefit from the addition of new directors with a fresh perspective."

Jana's approach follows that of Elliott Management, which like Jana has taken a large stake in Juniper and has made similar demands of the company.

Jana said that Juniper has an "unfocused product line, a lazy balance sheet and share price underperformance." The hedge fund accused the company of being "overcapitalized… even by Silicon Valley standards," adding that it should get rid of certain business lines.

New York-based Jana has also recently taken stakes in Airbus Group, calling it "the superior opportunity within aerospace" and comparing it calling it an even better bet than Boeing Co., which the hedge fund invested in a year ago.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note