Schulze All-In On Best Buy Deal
Best Buy founder Richard Schulze wrote a public letter to the company's board Thursday, reiterating his seriousness about mounting a takeover of the company and warning that he is "not going away."
In the letter Schulze, who resigned from the company's board earlier this year, asked for permission to perform due diligence for the purposes of the bid, while also chiding the board for publicly dismissing his initial proposal.
"All I am asking is your permission to conduct due diligence and form a group so that I can quickly be in a position to give the Board a fully financed offer for your consideration. My need for due diligence is limited to financial data and the standard corporate information necessary to secure financing," Schulze wrote in the letter, which was also issued as a press release.