Best Buy Founder Richard Schulze Wants To Take Best Buy

Posted: Aug 6 2012, 7:50am CDT | by , in News

Best Buy Founder Richard Schulze Wants to Take Best Buy

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

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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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () 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.
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