Elliott Management has ended his Juniper activist campaign. The fund took its active stake from 6.4% to below 5%. Now owning 4.5%.
Eliott noted that the company has made marked progress in turning around its business and managed to boost its stock price nicely thanks to buybacks.
The writing was on the wall that Elliott was moving on, from the new Citrix position to the February standstill agreement with Juniper. Elliott has two Juniper board seats. However, it didn’t make any “big money” in the name, having bought shares between $19 and $23. But that’s the modus operandi of Elliott’s recent campaigns.
