Best Buy and co-founder Richard Schulze have ended talks without reaching a deal. In a statement, Best Buy said that "the deadline by which Mr. Schulze could make an offer to acquire the company expired yesterday... The company received no such offer and will continue to focus on its transformation for the benefit of all of its stakeholders." Schulze resigned as Best Buy chairman in May 2012; soon after, he began talks to take the company private. That plan now appears to have fizzled, though sources tell The New York Times that discussion could resume at a later point.
Even if they did, though, it sounds like a buyout is off the table. "Any prospect of a full takeover of Best Buy had disappeared several weeks ago" after Schulze's group...
via The Verge - All Posts http://www.theverge.com/2013/3/1/4043176/best-buy-founder-drops-buyout-plan
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