blackstone

Dell confirms Blackstone drops takeover bid amid PC slump

Blackstone Group has withdrawn its proposal to buy Dell for $25 billion, citing the weak PC maker and poor financial results, Dell confirmed today.

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

Blackstone reportedly withdraws $25B takeover bid for Dell

Private-equity firm Blackstone Group has reportedly ended its $25 billion takeover bid for Dell.

Blackstone, which last month launched a bid for the computer maker to rival a $24.4 billion buyout offer from Silver Lake and Michael Dell, withdrew its bid on Thursday, sources tell The Wall Street Journal and the Financial Times. The reasons for the withdrawal were not immediately clear.

CNET has contacted Blackstone for comment and will update this report when we learn more.

Blackstone submitted a tentative offer to buy the company after Dell announced in February its plans to take the company private via … Read more

Dell CEO said to mull Blackstone buyout only with CEO assurance

It was assumed just a couple of months ago that Dell would go private with a $24.4 billion buyout under founder and CEO Michael Dell and private equity firm Silver Lake.

But several wrenches have been thrown into that plan.

Dell confirmed earlier this week that it had two possibly "superior" buyout bids, one coming from activist investor Carl Icahn and the other from private equity firm Blackstone. This means that if one of these two other potential bidders gets the prize, there could be a monumental power shift in the company.

Michael Dell is allegedly now … Read more

Dell board weighs competing takeover offers, report says

PC maker Dell has a competition on its hands to see who'll take over the company.

Until this weekend, a group led by founder Michael Dell had seemed to have things mostly sewn up with their $24.4 billion plan for putting an end to the Texas-based company's days as a publicly traded entity.

But now things have apparently gotten more complicated for Dell's board of directors. Reuters is reporting today, citing a source, that a special board committee is evaluating a pair of last-minute preliminary proposals, one from asset management firm Blackstone Group and the other … Read more

Blackstone, Icahn to make offers to buy Dell -- reports

Asset-management firm Blackstone Group has reportedly submitted a tentative offer to buy Dell, rivaling a $24.4 billion offer from founder Michael Dell and investment firm Silver Lake, which was announced last month.

Both Bloomberg and The New York Times are citing unnamed insiders in reporting the preliminary deal proposal, which, Bloomberg said, will commit Blackstone to hold takeover discussions with Dell. The letter was reportedly sent last night, and, Bloomberg said, Dell has till Tuesday to respond.

Details of the proposal were not available, and it's not known if Dell will go along. Bloomberg said Blackstone wouldn't … Read more

Dell buyout could be impeded by possible Blackstone bid

Blackstone is reportedly looking to get its hands on Dell before the Silver Lake and Michael Dell $24.4 billion buyout is complete.

According to Bloomberg, the asset management firm is supposedly considering a bid that could out-do what Silver Lake offered for the Dell acquisition. People familiar with the matter told Bloomberg that Blackstone has not yet made a decision and that it may bid as part of a group of investors. Reportedly, Blackstone has already reviewed Dell's finances after signing a non-disclosure agreement.

Dell announced in February that it had plans to take the company private via … Read more