Schulze Makes an Offer for Best Buy
Richard Schulze, the founder and former chairman of Best Buy (NYSE: BBY), recently made a purchase offer on the remaining shares of the company that he doesn’t already own. This deal values the company at up to $8.84 billion. The offer is worth $24 to $26 per share, representing a premium at the time of announcement of 36% to 47%. Schulze already has a 20% ownership stake in the company and the offer appears to stem from his deep experience with the company and therefore interest in its long-term success.