Items tagged with Blackstone
Spooked by a recent report that global computer shipments are down nearly 14 percent in what might be the worst contraction ever in the PC market, New York-based Blackwater Group LP has pulled out of the running in its pursuit of Dell. By stepping aside, Michael Dell and private equity partner Silver Lake are almost assured of taking over the company. Citing un-named sources, Reuters reports that another factor leading up to Blackstone's withdrawal is a lower earnings forecast by Dell's bean counters. Dell's operating income dropped from $3.7 billion to $3 billion in the current fiscal year, and... Read more...