Richard Schulze

Shortly after abandoning buyout possibilities of his former company, Best Buy Co-Founder and former Chairman Richard Schulze announced Monday that he's returning to the retailer as chairman emeritus. Schulze, who is Best Buy’s largest shareholder, is nominating two former Best Buy executives to join him on the board: former CEO Brad Anderson and former COO Al Lenzmeier.

Richard Schulze, founder of Best Buy Co., may abandon a buyout bid and instead line up investors to take a minority position in the electronics retailer, Reuters reported. Schulze informed the Best Buy board in August that he was interested...

Best Buy plans to give its founder a reprieve from holiday shopping. The electronics retailer said Friday that it would give its founder, Richard Schulze, until Feb. 28 to make a takeover bid for the company. That will give Schulze and his private equity...

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.

A buyout of Best Buy Co., Inc. (NYSE: BBY) is looking less and less likely. The process of founder Richard Schulze has just gone on for too long to make much sense at this point. Consider this: How much has Best Buy changed since Schulze was blown out of...

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