Dell said on Friday that the bidding consortium led by Blackstone Management Partners, initially interested in acquiring the PC maker, has decided not to make an offer after all.
A Dell research and development facility in Santa Clara, California on October 19, 2011. Dell announced that the bidding consortium led by Blackstone Management Partners has decided not to make an offer for Dell.
Dell released a letter from Boulder Acquisition Corp., a partner in the Blackstone-led consortium, withdrawing from the bidding process. The letter cited the weak personal computer market and Dell's deteriorating financial condition.