Identity deals that would make sense
Break the company up into 3 units - hardware, software, and services each with their own P&L, operating separately under the Sun brand. Then they buy PWC, scoop up some other software companies in security/identity, and break hardware out.
IBM buys SAP, ports stuff to DB2, SAP picks up an identity play so now you have a super platform company with a strong authoratative source offering with Identity and other apps on top, running on IBM hardware.
SAP gets some solid extensions of directory and IdM and if you threw RSA into that mix, you would have a killer secure offering, arguably one of the best.
Integrates what it has and maybe picks up HP so they have a hardware platform to play with.