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Blackstone Group Said to Submit Proposal to Buy Dell

Blackstone Group LP submitted a tentative offer late yesterday to acquire Dell Inc., rivaling a $24.4 billion offer from a group led by Silver Lake Management LLC and company founder Michael Dell, a person familiar with the matter said.

The bid will commit Blackstone to hold takeover discussions with the company, said the person, who declined to be identified because the matter is private. Dell has until Tuesday to respond to the offer, the person said.