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Blackstone’s Dell Bid Setting Stage for Rare Bidding War

Blackstone Group LP’s preliminary bid to take over Dell Inc. is setting the stage for a rare event: a bidding war between private-equity firms.

Blackstone, the world’s biggest buyout firm, and activist investor Carl Icahn made separate offers last week that rival a $24.4 billion bid for the computer maker by Dell founder Michael Dell and Silver Lake Management LLC, according to a statement today from Dell. The shares rose 3.2 percent to $14.59 at 9:31 a.m. in New York, 6.9 percent above the Silver Lake offer.