All Posts Tagged Tag: ‘Richard Schulze’

Best Buy, Schulze Agree to Move Forward With Due Diligence

Best Buy announced today that it has reached an agreement with founder Richard Schulze, which will enable Schulze to conduct due diligence, as he tries to acquire the company. Specifically, he’s been granted acces to certain info and permission to form an investment group with private equity sponsors, to help in the process of making a fully financed proposal to …

Read More

Best Buy Buyout Bid Talks Said To Resume

Talks between Best Buy and its founder, who has expressed interest in buying back the company, are reportedly back on, after a brief hiatus. Earlier this month, Best Buy Founder Richard Schulze announced an offer to buy back the company he started in 1966 under the name Sound of Music. The offer, estimated at $8 billion,was for a price of …

Read More

Best Buy Founder Schulze Makes Sure Board Knows He’s Serious About That Acquisition

Last week, Best Buy Founder Richard Schulze announced an offer to buy back the company he started for an estimated $8 billion. Today, he sent a letter to the Board of Directors affirming his commitment to the acquisition, and urging the Board to grant him permission to form a group and conduct due diligence, so he can present a fully …

Read More

Best Buy Chairman Ousted Following Investigation Of Former CEO

Back in early April, Best Buy CEO Brian Dunn resigned amid allegations of improper conduct with a female subordinate. When the resignation was first announced, Best Buy claimed that Dunn and the board agreed on the severance in order to “address the challenges that face the company.” Back in March, when the allegations first surfaced internally, the company hired an …

Read More

Best Buy Founder Resigns

It was just reported that former Yahoo CEO Scott Thompson resigned after being called out by Dan Loeb and Third Point for padding his resume. Thompson, who had been peddling a fake computer science degree for some time, made national news in a society that is very fascinated with the misgivings of 1%-ers, and then claimed to all the sudden …

Read More