“The founder of Best Buy Co. Inc. (NYSE: BBY) is preparing to make a fully financed offer for the company no later than this Sunday. The offer is expected to be in the range of $5 billion to $6 billion.
According to a report at the StarTribune, Best Buy founder Richard Schulze has lined up financing from bankers and private equity investors, including Cerberus and Leonard Greene & Partners.
When Schulze first made some noise about acquiring the floundering big-box electronics retailer, shares were above $20 and it was generally believed an offer of around $25 a share would be needed to get the deal down. Best Buy’s shares fell below $12 in mid-November, and a per share price of around $17 may get the deal done…”
If you enjoy the content at iBankCoin, please follow us on Twitter
