Buyout specialist Blackstone Group has abruptly ended its courtship of Dell Inc. less than a month after saying it intended to trump a deal with the slumping computer maker’s CEO, according to a report published late Thursday.
A published report said that JCPenney is consulting with bankers at Blackstone Group on how the struggling department store chain can raise $1 billion in cash.
Dell plans to negotiate with Blackstone Group and Carl Icahn over acquisition bids for the computer maker that rival a bid of over $24 billion from investors led by Michael Dell.
Is Michael Dell’s attempt to gain more control over his company about to turn into a financial tug-of-war? The answer could come Friday, as other offers may top his $24.4 billion deal.