Daily News: April 22, 2013

Blackstone Withdraws Dell Bid Amid Worsening PC Slump

Bloomberg reported that the Blackstone Group pulled out of bidding for Dell amid concerns about a worsening global PC slump, taking pressure off CEO Michael Dell to sweeten his original $24.4 billion buyout offer.

Bloomberg said, referring to a letter released by Blackstone, that a record decline in first-quarter computer sales helped trigger the withdrawal.

Bloomberg noted that PC shipments plummeted 14% in the first quarter, the worst decline since researcher IDC began tracking data in 1994.

To read the Bloomberg story, click here.

Previously on abfjournal.com:

CFO: Dell’s Largest Shareholder Balks at Deal, Friday, April 12, 2013