The chipmaker has held talks with the firms about selling itself, but a deal remains uncertain, said Reuters, citing several people familiar with the matter.
The talks have been underway for a few months, but the company has yet to receive an offer that would meet its asking price.
Some suitors are concerned about the company’s potential legal liabilities, which has been suit for patent infringement by rival Broadcom Corp, said some of the sources.
Emulex, which turned down a $11 per share takeover offer in 2009, is currently trading at $7.76 per share, which gives it a market cap of $700m.
In July it was reported that Francisco Partners was planning a refinancing of portfolio company GSX ahead of listing the business on the public markets.
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