Juniper Networks (JNPR) to Acquire Rest of Contrail Networks for $176M

December 12, 2012 4:06 PM EST
On December 7, 2012, Juniper Networks, Inc. (NYSE: JNPR) entered into an acquisition agreement to acquire Contrail Networks Inc. ("Contrail") in a cash and stock transaction for approximately $176 million.

Upon consummation of the acquisition of Contrail, the Company will pay cash in the amount of approximately $57.5 million, net of consideration for Contrail shares already owned by the Company. The Company has also agreed to issue up to an aggregate of 5,819,148 shares of its common stock to the stockholders of Contrail as the remaining portion of the consideration for all of the outstanding equity of Contrail, upon the consummation of the acquisition. The final number of shares of the Company’s common stock to be issued in connection with the acquisition is subject to adjustment based on (i) purchase price adjustment provisions, (ii) continuing service obligations to the Company of certain stockholders of Contrail, and (iii) indemnification obligations of Contrail stockholders after the closing of the acquisition.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Mergers and Acquisitions