Best Buy (BBY) Founder Schulze a "Long Ways" from Making Bid - Post
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Price: $75.17 -1.47%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 4.8%
Revenue Growth %: -5.1%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 4.8%
Revenue Growth %: -5.1%
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Shares of Best Buy Co., Inc. (NYSE: BBY) could see volatility Friday following reports from the New York Post that founder Richard Schulze's efforts to put together a bid is hitting snags and he is a "long ways" from making a bid for the embattled retailer.
Sources told the Post that it was not unreasonable to think that a bid will flirt with the mid-December deadline - and possibly miss it. It is possible the Best Buy's board could offer another extension to Schulze but the delays suggest that the former-Chairman is having trouble convincing private equity executives who would want more control as a condition of signing a deal.
Shares of the retailer have seen wild swings in recent days on any whisper from the last-ditch effort to save the deal.
NY Post Link
Sources told the Post that it was not unreasonable to think that a bid will flirt with the mid-December deadline - and possibly miss it. It is possible the Best Buy's board could offer another extension to Schulze but the delays suggest that the former-Chairman is having trouble convincing private equity executives who would want more control as a condition of signing a deal.
Shares of the retailer have seen wild swings in recent days on any whisper from the last-ditch effort to save the deal.
NY Post Link
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