Blackstone Ends Bid to Buy Dell
Had proposed buying the company for $14.25 per share
Dell says buyout specialist Blackstone Group is ending a bid to buy the computer maker, less than a month after pitching a plan to trump an offer from the company's CEO and founder.
A letter to Dell from Blackstone and others involved in the bid says a steep slump in PC shipments and Dell's eroding financial profile prompted them to end their bid.