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Best Buy founder makes $8.5 billion bid to take company private

zacharye (2330148) writes | more than 2 years ago

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zacharye (2330148) writes "Best Buy founder and the company’s largest shareholder Richard Schulze has offered as much as $8.5 billion to take the company private. Schulze had been rumored to be preparing a takeover offer for some time, and he recently assembled a team of executives that will run the company if his buyout offer is approved. His offer amounts to between $24 and $26 per share, a premium of as much as 47% over Best Buy’s stock price at Friday’s close..."
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