Wed, October 3, 2012
Richard Schulze, the founder and former chairman of Best Buy Co. Inc., has teamed with at least four private equity groups and has begun due diligence in his effort to buy the company and take it private,
Reuters reported.
“Schulze is also negotiating individually with the private equity firms to iron out details such as how much of his roughly 20 percent stake in the company he would contribute in a bid, and what role he would play after a buyout,” the article said, citing people familiar with the situation.
The buyout could be worth up to $11 billion including debt. (Source: Reuters, Oct. 3, 2012.)
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