2. Brocade Communications
Since putting the company up for sale in 2009, Brocade has long been rumored as a takeover target for a private equity firm or strategic acquirer like NetApp, Dell, HP or Oracle, among a host of tech players. Quatalyst Partners tech banker Frank Quattrone has reportedly been shopping the maker of switches for data-storage networks for years, but it increasingly looks like Brocade will have to go at it independently in the nearterm.In recent weeks shareholding data and reports from Bloomberg and DealReporter signal that prospective buyers are vacating Brocade as an acquisition target. Because prospective private equity buyers like the Blackstone were reported to walk away from the bid because the market cap had swelled above $2.5 billion. After news of a deal breakup came in late February, FBN Securities analyst Shebly Seyrafi nevertheless raised his price target for Brocade shares to $6.50 from $5.50 on the company's first quarter earings and second quarter outlook, noting ethernet sales and the benefits of an over 50% debt reduction. "A smaller M&A premium is therefore indicated for
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