TrafficCourt

Best Buy Bid: Much Ado About Nothing?

After months of talk about Richard Schulze's upcoming acquisition of Best Buy, it turns out the deal might never happen. The Wall Street Journal reports that Schulze is now considering taking a minority stake in the electronics retailer, along with other investors.

The reason? According to the Journal:

Mr. Schulze has been working since last summer to secure financing to take Best Buy private but hasn't yet gotten enough support from banks to finance the deal, according to people familiar with those discussions.
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish