Blackstone Bows Out, Playing Silver Lake's Tune
The Blackstone Group LP dropped out of the bidding for Dell Inc. on Friday, leaving Carl Icahn as the only challenger to Silver Lake Partners' $24.4 billion buyout offer.
The way it did so — claiming it could find no more value in the struggling PC maker than Silver Lake already had — likely boosts Silver Lake's prospects and could even give the firm grounds to reopen negotiations at a lower price, attorneys said.
In a letter sent to Dell's special...
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