Agence France-PresseApril 19, 2013 07:31
Dell announced Friday that the bidding consortium led by Blackstone Management Partners, initially interested in acquiring Dell, has decided not to make an offer after all.
Dell released a letter from Boulder Acquisition Corp., a partner in the Blackstone-led consortium, withdrawing from the bidding process. The letter cited the weak personal computer market and Dell's deteriorating financial condition.
The withdrawal leaves investor Carl Icahn as the sole alternative bidder to a consortium led by company founder Michael Dell.