HPE’s $14-billion acquisition of Juniper Networks might not be a done deal.
A report in Fortune outlines how the acquisition – which has received Department of Justice (DoJ) approval – could be reviewed by a federal judge to determine if it is in the public interest.
The DoJ initially opposed the deal, but recently reversed that position.
That reversal triggered opposition from, among others US Senator Elizabeth Warren, who penned a letter of objection to the acquisition, and activist investor Elliot Investment Management, which holds a $1,5-billion long position in the shares.
Now, it’s possible that a federal judge could hold a “Tunney review” that might possibly overturn the deal.
The Tunney Act, officially the Antitrust Procedures and Penalties Act, subjects civil antitrust settlements with the DoJ, including merger settlements, to federal district court review.
The objections to the HPE-Juniper acquisition have come as several online sources allege irregularities in the DoJ that allowed the merger to be approved.
Fortune reports that HPE has denied any wrongdoing.