If Hewlett Packard Enterprise was floating a trial balloon, consider it popped.
The IT equipment side of the former HP empire might be merging with another storied Silicon Valley name. The Wall Street Journal reported Monday afternoon that Hewlett Packard Enterprise is in advanced talks to acquire Juniper Networks for $13 billion. It would be the largest deal ever for the company since its late-2015 split from the PC and printer business now known simply as HP Inc. Aruba Networks, another networking equipment provider, was acquired by HP months before the split for $2.7 billion.
The size of the potential Juniper deal—more than half of Hewlett Packard’s market cap prior to Monday’s report—has investors worried. Hewlett Packard shares slid more than 7% by midday Tuesday. The company last reported about $6.5 billion in cash, equivalents and investments, along with $12.4 billion in total debt.
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