PC Slide Doomed a Blackstone-Dell Tie

It really was that bad.

That was the conclusion Blackstone Group LP reached about Dell Inc. after it set a small army off to decide whether the private-equity firm should bid for the computer maker.

Blackstone on Thursday told a special Dell board committee negotiating a sale of the company that, after weeks of review, it wouldn’t be moving ahead with a bid. It cited an “unprecedented” decline in PC sales and Dell’s “rapidly eroding financial profile.”

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