No DHCP or ProxyDHCP Offers Were Received

If a DHCP server is not responding to an x86 client's request, you see the following messages:

Intel(R) Boot Agent PXE Base Code (PXE-2.1 build 0.86)
   Copyright(C) 1997-2007, Intel Corporation

   CLIENT MAC ADDR 00 14 4F 29 04 12 GUID FF2000008 FFFF FFFF FFFF 7BDA264F1400
   DHCP......... No DHCP or ProxyDHCP offers were received
   PXE-MOF: Exiting Intel Boot Agent

The timeout message indicates that the client is sending a DHCP request and not getting a response. This issue is probably due to an error in the DHCP configuration. Check whether your client is configured correctly in the DHCP server.