Dell Investor Cashes Out After Blackstone Walks Away

Law360, New York (April 24, 2013, 2:30 PM EDT) -- With Blackstone Group LP’s exit last week from the Dell Inc. bidding war, shareholder Oakmark Funds gave up hope of an offer higher than the $24.4 billion currently on the table, saying Wednesday it had sold its 1.5 percent stake.

Oakmark, which owns about 1.5 percent of Dell through three mutual funds it manages, said Wednesday it had taken a cue from the private equity firm and sold its stake, worth $378 million at the buyout price.

Oakmark's own numbers suggested Dell was worth more than...
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