Hope may be running out for Best Buy. Since Richard Schulze, Best Buy's founder and former chairman, announced plans last August to take the ailing electronics retailer private for $10.8 billion -- including debt -- the stock has plunged almost 25%.
The company's board rejected Schulze's initial offer to buy back the company. Schulze has missed several deadlines to give the board another proposal; the next deadline is Feb. 28.
Schulze may scrap his bid in favor of lining up investors to take a minority position in the company
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Best Buy Holiday Revenue Flat
January 11, 2013
From News
Best Buy said this week that it posted holiday revenue of $12.8 billion, down only slightly from last year's figure of $12.9 billion. The period in question covers the last nine weeks, ending Jan. 5.
