Juniper agrees $4bn takeover of NetScreen

Router maker Juniper Networks has announced it has agreed to buy NetScreen Technologies, a network security provider, in a stock deal valued at roughly $4bn. Under the terms of the deal, Juniper will exchange about 1.4 shares of its own common stock for each outstanding share of NetScreen. The companies said they expect the deal to close during the second quarter of 2004 if the merger successfully garners shareholder and regulatory approvals. At Juniper’s stock price of $29.47 a share at market close on Friday, the deal would be worth about $4bn.

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