Dell confirms Blackstone drops takeover bid amid PC slump
The private equity firm last month launched a bid for the computer maker to rival a $24.4 billion buyout offer from Silver Lake and Michael Dell. However, since that time, the troubles facing Dell have become more clear, causing Blackstone to drop its bid. News of the withdrawal was originally reported Thursday by some outlets.
Blackstone noted in a letter to Dell's special committee that a "unprecedented 14 percent market decline in PC volume … Read more