Dell says Blackstone withdraws from buyout process

April 19 Fri Apr 19, 2013 7:12am EDT

April 19 (Reuters) - Dell Inc said a consortium led by Blackstone Management Partners LLC has decided not to submit a definitive proposal to acquire the company and is withdrawing from the process.

New York-based Blackstone's move comes just a month after it launched a challenge to founder Michael Dell's attempt to take Dell private in a $24.4 billion deal.