Best Buy Offer Imminent?

Bloomberg reports that Richard Schulze, Cerberus Capital Management and two additional private equity firms will make a buyout offer for Best Buy by the end of this week.

The offer will reportedly be priced between $5 billion and $6 billion.

Update: The New York Times has just reported that Best Buy granted Schulze an extenstion until Feb. 28 to make a bid so he and his partners could review the company's holiday sales results.

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