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Blackstone withdraws $25 billion Dell bid

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dell logo stock
dell logo stock

Dell indicated that it would take Carl Icahn's bid for the company seriously when it struck a deal with the billionaire investor earlier this week, and it may have more reason to do so now — multiple sources are reporting that Blackstone has now abandoned its rival offer. According to the Financial Times, Blackstone's investors weren't convinced of the deal's merits, and felt that Dell's value on the stock market is already fair. Blackstone's deal would have included an option for shareholders to hold onto their stake. With the private-equity firm seemingly out of the picture, however, Dell's committee may give further thought to Icahn's bid, and founder Michael Dell's chances of taking the company private himself have also received a boost.