Icahn backing away from Dell bid: report
In this March 22, 2006 file photo, Dell corporate logo at Novell's BrainShare convention in Salt Lake City, is shown. (AP Photo/Douglas C. Pizac, file)
Published Friday, April 19, 2013 7:35PM EDT
According to a published report, billionaire investor Carl Icahn is unlikely to follow through on a preliminary offer to acquire Dell, becoming the second suitor to revise views of the company after reports showed a staggering decline in PC sales.
The Wall Street Journal says Icahn will now likely wait to see if shareholders approve a February deal for the company to be taken private by founder Michael Dell and Silver Lake Partners for $24.4 billion.
The newspaper says that if the deal is rejected, Icahn may pursue a hostile takeover.
The Journal cites an unnamed person familiar with Icahn's thinking.
The news comes after the company said in a securities filing Friday that Blackstone Group LP is withdrawing from the bidding process.