Hewlett Packard shares fall on $1.35 billion convertible stock offering for Juniper buyout
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Hewlett Packard Enterprise's shares fell 6.4% after announcing a mandatory convertible preferred stock offering worth $1.35 billion to fund its acquisition of Juniper Networks for $3.5 billion. The proceeds will cover fees related to the transaction. The preferred stock allows for higher dividends and converts into common shares by September 1, 2027, unless redeemed. Joint book-running managers for the offering include Citigroup, J.P. Morgan, and Mizuho. HPE had recently raised its annual profit forecast due to increased AI server demand.
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