The European Commission regulators are reportedly set to decide by August 1 on whether to approve Hewlett Packard Enterprise Company's (NYSE:HPE) $14 billion acquisition of Juniper Networks, Inc. (NYSE:JNPR).

Announced in January, the deal aims to enhance Hewlett Packard Enterprise's artificial intelligence offerings and expand its networking business, reflecting the strategic focus on AI as a key growth driver for many firms. Reuters reported the expected date, citing a filing on the Commission's website on Friday.

The European Commission, serving as the EU's competition watchdog, may approve the deal with or without conditions following its initial assessment, or initiate a comprehensive investigation.

Hewlett Packard Enterprise is anticipated to point to market leader and Juniper rival Cisco Systems, Inc (NASDAQ:CSCO) to address EU competition concerns, per the report.

Additionally, the UK competition authority is reviewing the deal, expecting a decision by August 14.

The deal was for an all-cash transaction for $40.00 per share. The purchase price represents a premium of around 32% to the unaffected closing price of JNPR's common stock on January 8, 2024, the last full trading day before media reports regarding a possible transaction.

Post transaction closure, Juniper CEO Rami Rahim will lead the combined HPE networking business and will report to HPE President and CEO Antonio Neri.

Also, the combination is expected to achieve operating efficiencies and run-rate annual cost synergies of $450 million within 36 months.