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Hi Natarajan!
That wouldnt be a 'deadlock' but rather a concurrency issue.
EPiServer implements a 'optimistic lock' and will warn the user about changes made (by other user) to the page while the user was editing.
The user then has the option to cancel or continue saving (and thus overwriting any changes by other users).
Also, all changed versions of the page are available through the version list so one can always go back to a previous version.
Regards,
Johan Olofsson