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Founder and Largest Shareholder Richard Schulze Submits Proposal to Acquire Best BUY Co Inc


Monday, 6 Aug 2012 08:30am EDT 

Best BUY Co Inc announced that Richard Schulze, Founder and former Chairman of the Company has submitted a written proposal to the Company's board of directors to acquire all of the outstanding shares of the Company that he does not already own for a price of $24.00 to $26.00 per share in cash. The purchase price, which is based on current public information, represents a premium of 36% to 47% to its closing stock price of $17.64 on August 3, 2012. Schulze is Best Buy’s largest shareholder, controlling 20.1% of Best Buy shares. 

Company Quote

29.89
-0.6 -1.97%
11 Jul 2014