Nokia Oyj (ADR) (NYSE:NOK) is denying rumors that it is involved in takeover talks with Juniper Networks, Inc. (NYSE:JNPR).

Nokia notes that it doesn’t typically comment on rumors such as this, but felt that it need to because of how specific the rumors are. The following is the company’s statement on the matter.

“Nokia is not currently in talks with, nor is it preparing an offer for, Juniper Networks related to an acquisition of that company.”

The reports of a potential deal between Nokia and Juniper Networks, Inc. came from CNBC. The news organization claims that inside sources told it that NOK was preparing an offer for JNPR. However, it appears this isn’t the case.

Nokia’s statement regarding the news will likely put an end to discussions about a takeover offer for Juniper Networks, Inc. Companies normally don’t comment on market matters like this, which is the route that Juniper Networks, Inc. took when it was asked about the possible takeover.

The report about the offer to take over Juniper Networks, Inc. said that Nokia was preparing to offer $16 billion for the company. This is above its $11.26 billion market capitalization when the markets closed on Wednesday. It also would have meant an offer of $42 per share for JNPR stock. This would’ve been a large premium over JNPR’s closing price of $29.51 on Wednesday, Reuters notes.

NOK stock was up slightly and JNPR stock was down 4% as of Thursday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.