April 1, 2013 – Dell Inc. founder Michael Dell will only consider backing a buyout by Blackstone Group LP if the private-equity firm guarantees he can remain as chief executive officer, according to a person familiar with the discussions.

In several recent meetings in Austin, Texas, with Chinh Chu and David Johnson -- the Blackstone executives overseeing the firm’s bid -- Michael Dell said he would be more likely to support their proposal if he retained an influential role, a second person familiar with the talks said. Negotiations are ongoing and the two sides may not reach an understanding.

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