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Blackstone Group Cancels Dell Takeover Bid

DellLogoBlackstone Management Partners LLC has withdrawn its bid to acquire Dell (NASDAQ: DELL) following its due diligence process.

Dell’s special committee received the notice through Boulder Acquisition Corp., a partner in the Blackstone-led group that submitted a takeover offer in late March,  Dell said Friday.

Blackstone and its partners offered to buy the computer manufacturer for more than $14.25 per share in a deal that would reserve some Dell stock for public trading.

Francisco Partners, Insight Venture Partners and Riverwood Capital partnered with Blackstone for the offer.

This decision comes in the same week that investor Carl Icahn agreed to limit his stake in Dell to no more than 10 percent and not work with other investors to acquire 15 percent of the company.

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