Best Buy Co. founder Richard Schulze will make a fully financed offer to purchase the consumer electronics giant by the end of the week, possibly on Friday, the Star Tribune has learned.
Schulze will submit a formal proposal to the board of directors before a “hard” deadline of Sunday, said one source. The offer is expected to be at least $5 billion to $6 billion.
“This is going down to the wire,” the source said.
Over the past weekend, Schulze and his team secured agreements to finance the deal from bankers and private equity investors, which includes Cerberus, Leonard Greene & Partner and the Texas Pacific Group, the source said.![]()
![]()
![]()
![]()
![]()
![]()
↧