Schulze Makes Offer For Best Buy
Best Buy founder Richard Schulze has made an offer to purchase the company and take it private, Bloomberg News reported.
Schulze, who is being backed by Credit Suisse Group AG, offered $24 to $26 a share, a 36 percent premium over Best Buy's closing price on Friday. Schulze will also contribute $1 billion in equity from his 20 percent Best Buy stake. The remaining $7.5 billion or so will come from “premier private-equity firms."