By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Round Rock, Texas — Citing plunging PC sales, the Blackstone Group today withdrew from the bidding war to acquire Dell.
Blackstone executives broke the news to Dell’s board of directors in a letter today. The equity group had offered $14.25 per share and planned to take the company private.
Blackstone’s move now leaves just two bidders. One is a group that includes Dell founder Michael Dell, which has tendered an offer of $13.65 per share with Dell kicking in $4.5 billion of his own money. The other is Carl Icahn who would pay $15 per share for 58 percent of the company.
After the news Dell shares fell and were trading in the $14.43 range.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.