Best Buy Founder Makes $8.5 Billion Bid To Take Company Private

zacharye writes "Best Buy founder and the company's largest shareholder Richard Schulze has offered as much as $8.5 billion to take the company private. Schulze had been rumored to be preparing a takeover offer for some time, and he recently assembled a team of executives that will run the company if his buyout offer is approved. His offer amounts to between $24 and $26 per share, a premium of as much as 47% over Best Buy's stock price at Friday's close."

Comments

He is a job creator

[SuperKendall]

They call them "job creators".

Which is accurate.

You may not like how he comes by his money, or be jealous at how easily he can raise billions of dollars.

But the simple truth is that without someone buying it, Best Buy and all the jobs it offers now will go away in a few years. With a fresh multi-billions of dollars, and a good plan those jobs could be around indefinitely.