Schulze May Drop Best Buy Bid

Best Buy founder Richard Schulze is considering either dropping his bid to take over the company, or taking on a larger minority stake, the Wall Street Journal reported.

According to the report, Schulze has had trouble finding enough financial backing for a full takeover.

The plans are not final and Schulze could go ahead with the initial plan. He has a deadline at the end of the month to submit his bid.

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