UPDATE 1-Cerberus pulls Affiliated Computer bid-source

Newswire

(Adds details, background) By Michael Flaherty NEW YORK, Oct 30 (Reuters) - Private equity firm Cerberus Capital Management LP [CBS.UL] withdrew its $6.1 billion bid for Affiliated Computer Services Inc , a person familiar with the matter said on Tuesday, ending a long and difficult effort to take the company private. The failed deal is the latest casualty of the credit crunch, as private equity buyers and Wall Street lenders back out of agreements due to difficulties raising funds. ...

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