Juniper shareholders to decide NetScreen deal
Juniper Networks is to buy network security appliance specialist NetScreen Technologies in a deal worth $4bn (€3.15bn).
Subject to shareholder approval, the world's second largest network equipment manufacturer after Cisco Systems will swap 1.404 of its shares for each NetScreen share.
The move is seen as further evidence that the IT equipment sector is recovering.
NetScreen's shares jumped 43% to $37.80 (€29.85) from a close of $26.40 (€20.85) on Friday while Juniper's shares were down in pre-market trading at $27.58 (€21.78) compared with a Friday close of $29.47 (€23.27) on the Nasdaq.
Juniper, based in Sunnyvale, California has 1,600 employees, while NetScreen has 900.
