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Best Buy Founder Makes an Offer

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In a move that's been expected for some time, Best Buy's founder Richard Schulze made an $8.8 billion buyout offer to the chain.

Schulze plans to fund the acquisition with approximately $1 billion of his own money, plus additional investment from private equity partners and debt financing.

According to the New York Times:

“There is no question that now is the moment of truth for Best Buy and that immediate and substantial changes are needed for the company to return to its market-leading ways,” Mr. Schulze said in a statement. “I am deeply concerned that further delay and indecision will cause additional loss of both value and talented leaders who are now uncertain of the company's future.”

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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