Best Buy (BBY) to Acquire Napster (NAPS) for $2.65/Share
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Best Buy (NYSE: BBY) to acquire Napster (Nasdaq: NAPS) for $2.65 per share. The transaction, with an aggregate purchase price of approximately $121 million (or $54 million net of approximately $67 million in cash and short term investments of Napster as of June 30, 2008), is subject to customary closing conditions
Best Buy Co., Inc., together with its subsidiaries, operates as a specialty retailer of consumer electronics, home office products, entertainment software, appliances, and related services primarily in the United States, Canada, and China.
Napster, Inc. offers interactive music services that enable fans to sample, listen to, subscribe to, and purchase from online music catalogs utilizing secure and legal platforms.
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