Deals
Blackstone Said to End Talks to Buy Brocade Because of Price
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Blackstone Group LP, the world’s largest private-equity firm, ended talks to buy Brocade Communications Systems Inc. because the price was too high for a leveraged buyout, said a person with knowledge of the situation.
Blackstone and Francisco Partners had been discussing a potential takeover of Brocade after other private-equity firms lost interest, said the person, who declined to be identified because the matter is private. The maker of switches for data-storage networks, which has been looking for a buyer since 2009, has a market value of about $2.58 billion.