Juniper, Elliott Management in talks to add more nominees to board: WSJ

Network equipment maker Juniper Networks is in talks with hedge fund Elliott Management about adding a number of new directors to its board, The Wall Street Journal reported on Friday, citing people familiar with the matter.

The activist investor has privately recommended a number of new director candidates, but it was too early to say who or how many directors will be added to the board, the Journal reported.

The move could enable the firms to avoid a proxy fight, the report said.

Juniper Networks
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Elliott Management plans to add more industry experience to the company's 11-member board to shore up its operations and may also ask the board to explore a sale of the company, the Journal report said.

Elliott Management owns a 9.07 percent stake in Juniper Networks as of Nov. 5, according to Thomson Reuters data.

Officials at Juniper Networks and Elliott Management were not immediately available for comment.

Juniper's Chief Executive Shaygan Kheradpir resigned in November, following a board review of his conduct in a negotiation with a customer.

The firms are in talks as a one-month window opens in late January for investors to nominate new directors to the board, the Journal said.

Juniper Networks in February agreed to several demands from Elliott Management, including appointing two directors proposed by the hedge fund.