Brocade Communication Systems (BRCD) Denies Being up for Sale, HPQ, COMS

Brocade Communication Systems (NASDAQ: BRCD) denied that it was scouting for a buyer. The Wall Street Journal had reported on October 5th that Brocade was scouting for a buyer. The company management formally denied the reports on November 24th during a quarterly earning call.

It is widely believed that Brocade was a potential target for Hewlett Packard Company (NASDAQ: HPQ). However, Brocade missed out as Hewlett Packard went on to acquire 3Com Corporation (NASDAQ: COMS), one of Brocade’s competitors.