Dell Inc. plans to report quarterly financial results on Thursday that are significantly lower than Wall Street expectations of profit, but higher-than-expected in revenue, according to a person briefed on the results.
The Oakmark Funds, a group of mutual funds that was one of Dell Inc.’s larger shareholders, sold its stake after Blackstone Group LP withdrew its potential bid for the PC maker, Oakmark said Wednesday.
Blackstone Group has ended its pursuit of Dell Inc., less than a month after the private-equity firm said it would try to top a leveraged buyout by the computer maker’s founder and a rival investment firm.
Wall Street has a lot more than bragging rights riding on the $24 billion-plus takeover battle for Dell Inc. Some of the biggest banks in the world are vying for fees that together could top $400 million for advising and financing the buyout of the computer group, according to people familiar with the negotiations.