The private equity firm also cites Dell's "rapidly eroding financial profile" as part of its reason to withdraw from the takeover process.
Private-equity firm launched a bid last month to rival Michael Dell's effort to take private the company he founded.
It's unclear if Silver Lake, Blackstone, or Carl Icahn will buy out the PC maker, but Michael Dell is reportedly saying he'll only support Blackstone if he remains the company's CEO.
Asset-management firm submitted preliminary deal proposal last night, to rival Michael Dell and Silver Lake's $24.4 billion offer, reports say. Additional report says activist investor Carl Icahn has also told Dell's board he'll make an offer.
Word has it that the asset management firm may be considering outbidding Silver Lake in the buyout that aims to take the PC maker private.
One of the proposals comes from Carl Icahn and the other from Blackstone, Dell will continue to negotiate with both parties.
The activist investor has teamed up with Southeastern Asset Management to offer an alternative to the current offer.
Things have gotten complicated for the PC maker with a pair of last-minute preliminary proposals, one from asset management firm Blackstone Group and the other from activist investor Carl Icahn.
Private-equity group making rival bid for the computer maker has reportedly discussed the CEO's position with the former HP chief.
In his quest to take the company private, the Dell CEO says he'll spend more money on PCs and tablets, hire more salespeople, and compete more aggressively overseas.