Dell shares at two month low after Blackstone pulls out
NEW YORK/SAN FRANCISCO (Reuters) – Shares in Dell Inc dived to a 2-month low on Friday after Blackstone Group LP withdrew from a three-way battle to buy out the company, citing a crumbling personal computer market that has reduced financial forecasts at the world’s No. 3 PC maker. Its withdrawal eases the way for founder Michael Dell and Silver Lake to go ahead with a $24. 4 billion deal to take the company private for $13. 65 a share, in what would be the largest private equity-led buyout since the 2008 financial crisis. Dell’s stock fell 4 percent to close at $13. . . .
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