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Schulze's Bid On Best Buy In Dec. Will Reportedly Be Beneath $8 Billion

November 9, 2012

The Best Buy buyout offer founder Richard Schulze will reportedly not come before next month, and it will be below the $8 billion level that many analysts said Schulze needed to make.

Schulze has formed a business plan and conducted due diligence. Now, he is securing financial commitments, Reuters reports. The capital will be a mix of private equity, debt and a reinvestment of Schulze's stake in the company, a sizable sum that still makes him the company's largest shareholder. At three private equity shops, Apollo Global, TPG Capital and Leonard Green, are in talks.

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