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Best Buy Founder Richard Schulze Wants to Take Best Buy

Richard Schulze made an offer to buy the retailer for $26 a share.

Aug 6 2012, 7:50am CDT | by

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Best Buy Founder Richard Schulze Wants to Take Best Buy
 
 

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Best Buy Founder Richard Schulze Wants to Take Best Buy

Best Buy founder Richard Schulze stepped down as chairman earlier this year. Now he makes an offer to buy Best Buy and take it private. The purchase price would be in the range of $8.5 billion. Schulze offers about 35% more than the current trading value of Best Buy.

According to Bloomberg Schulze has 20% of Best Buy and his motivation to buy the retailer is to make bold and extensive changes to bring Best Buy back to market leadership.

 

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Update: 2

Best Buy Co. Inc. (NYSE:BBY) Is In Trouble

Source: Ebeling Hefferman Live Trading News

Bundeswehr Holds Alpine Adventure Camp 2014
It seemed that Best Buy Co. Inc. (NYSE:BBY) was having a turnaround in their fortunes under their CEO Herbert Joly, who joined this electronics giant in August 2012. The company saw damage, generally caused by rivals Amazon.com Inc. and also the big loss of its CEO as well as, Chairman and founder Richard Schulze. Schul ...
Source: Ebeling Hefferman Live Trading News   Full article at: Ebeling Hefferman Live Trading News Mar 31 2014, 10:15am CDT
 


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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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