Best Buy Completes Napster Offer
Best Buy made its deal to acquire a controlling stake in Napster final on Monday, when its tender offer for 83.3 percent of the company was completed. Best Buy then launched a second offering period for the remaining shares.
In a deal first announced in September, Best Buy paid $127 million to acquire the music download service.
"We're pleased that our tender offer was successful," Best Buy's executive vice president of connected digital solutions, David Morrish, said as part of the announcement. "We look forward to concluding the merger so that we can begin the work of increasing Napster's subscribers and building on its capabilities in the digital media space,"