The State of Qatar was already the second-largest shareholder in the takeover target Xstrata Plc (XSRAY) (XSRAF), and has now the country has acquired almost $38 million worth of additional shares, which pushes its stake beyond 12 percent. This move ups the ante in its standoff with Glencore International Plc (GLCNF).
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Observers see the chances for a Brocade Communications Systems, Inc. (NASDAQ:BRCD) sale to be improving, but Canaccord isn’t so sure, remarking that, “the case for a strategic suitor is still questionable.” However, the analyst cites the activist investor Elliott Associates’ 9.2 percent investment in the firm, changes in management, and the proposed sale/lease-back of the company’s headquarters, making a takeover “incrementally attractive.”
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