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Dell confirms Blackstone drops takeover bid amid PC slump
2013-04-19 15:53:57| CNET News.com
The private equity firm also cites Dell's "rapidly eroding financial profile" as part of its reason to withdraw from the takeover process. [Read more]
Reports: Blackstone abandons offer for Dell
2013-04-19 15:22:37| InfoWorld: Top News
Blackstone Group has given up its bid for Dell, less than a month after the private-equity fund manager said it was planning to top an offer from founder Michael Dell and private-equity firm Silver Lake Partners, according to news reports. In the so-called "go-shop" period for alternative bidders to make their offers, Dell received two counter-offers related to its plans to go private, with bids coming in from Blackstone and entities associated with investor Carl Icahn. It is not clear whether Icahn's bid still continues.
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Blackstone abandons offer for Dell
2013-04-19 15:22:37| InfoWorld: Top News
Blackstone Group has given up its bid for Dell, less than a month after the private-equity fund manager said it was planning to top an offer from founder Michael Dell and private-equity firm Silver Lake Partners, according to news reports. In the so-called "go-shop" period for alternative bidders to make their offers, Dell received two counter-offers related to its plans to go private, with bids coming in from Blackstone and entities associated with investor Carl Icahn. It is not clear whether Icahn's bid still continues.
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Blackstone pulls out of Dell bid
2013-04-19 14:54:36| BBC News | Business | UK Edition
Dell's deteriorating financial condition leads to Blackstone deciding to withdraw its bid for the computer company.
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Blackstone withdraws from race to buy Dell
2013-04-19 13:38:00| Telecompaper Headlines
(Telecompaper) Blackstone has withdrawn from a three-way race to acquire computer maker Dell, citing a 14 percent market drop in PC sales in the first quarter and "the rapidly eroding financial profile of Dell". A letter released by Dell's special committee and signed by Boulder Acquisition, on its behalf and that of Blackstone, Francisco Partners, Insight Venture Partners and Riverwood Capital, states the partners will likely not pursue this opportunity, while expressing their gratitude to Michael Dell and the management team for their time and due diligence information. This leaves Dell with an original buyout bid by CEO Michael Dell and investors led by Silver Lake for USD 24.4 billion, or USD 13.65 a share, and a preliminary proposal of up to USD 15 a share from Carl Icahn.
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