Juniper Networks adds two directors in agreement with Elliott

Reuters News
Posted: Feb 24, 2015 10:41 AM

(Reuters) - Juniper Networks Inc appointed two independent directors to its board and said activist investor Elliott Management Corp would support the network gear maker's nominations.

The Wall Street Journal reported in December that Juniper and Paul Singer-controlled Elliott were in talks about adding a number of new directors to the company's board.

Elliott and its associates held an 8.7 percent stake in Juniper as of November.

Juniper, which appointed Jim Dolce and Rahul Merchant to its board, said Elliott would vote in favor of the company's nominees at its annual meeting.

Elliott has pushed for changes or a sale at enterprise technology companies such as EMC Corp, Riverbed Technology Inc and NetApp Inc in the past few years.

Juniper bowed to Elliott's demands last February, when it agreed to appoint former Cisco Systems Inc executives Kevin DeNuccio and Gary Daichendt as directors to its board.

(Reporting By Sai Sachin R in Bengaluru)