Best Buy founder proposes taking retailer private

(Reuters) – Best Buy Co Inc founder and former Chairman Richard Schulze offered to take the struggling electronics retailer private on Monday in a deal that values the company at between$ 8.16 billion to $ 8.84 billion. Schulze, who owns 20.1 percent of the company's stock, said he would offer to buy the shares he does not already own for $ 24 to $ 26 each. Schulze said he has held talks with top private equity firms, but did not name them. The offer represents a premium of between 36 percent and 47 percent over the closing price of $ 17.64 on Friday. Best Buy shares traded at $ 21. …

Best Buy founder proposes taking retailer private (Reuters) – Best Buy Co Inc founder and former Chairman Richard Schulze offered to take the struggling electronics retailer private on Monday in a deal that values the company at between$ 8.16 billion to $ 8.84 billion. Schulze, who owns 20.1 percent of the company's stock, said he [...]