Founder Schulze submits proposal to acquire Best Buy
Best Buy founder and ousted chairman Richard Schulze has, as expected, submitted a proposal to acquire the brick-and-mortar retailer.
Under the terms of the deal, Schulze, who owns about 20 percent of Best Buy already, would pay between $24 and $26 per share in cash to the company to acquire the outstanding shares he doesn't own. If Best Buy were to accept the offer, the company would score a premium of 36 percent to 47 percent on its Friday closing price of $17.64.
If Schulze gets his way, he'll take Best Buy from the stock market and … Read more