Best Buy Co-Founder to Make Privatization Bid

Best Buy co-founder Richard Schulze will make a fully financed offer to purchase the electronics retailer by the end of the week, possibly on Friday, according to the Star Tribune. A formal proposal to the board of directors before the Sunday deadline is expected to be at least $5 billion to $6 billion. Schulze and his team secured agreements to finance the deal from bankers and private equity investors, which includes Cerberus, Leonard Greene & Partner and the Texas Pacific Group, according to the article, citing an anonymous source.

Related Content