Sun Smiles on Schulze as Best Buy (BBY) Tests Investors' Patience
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Pictured Right, BBY Founder Schulze
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Price: $85.89 +0.19%
Revenue Growth %: +1.1%
Financial Fact:
Operating income: 881M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Revenue Growth %: +1.1%
Financial Fact:
Operating income: 881M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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With Best Buy (NYSE: BBY) slumping, what's left for the retail giant? Not much, but at least one person is smiling from ear to ear.
That person, is founder Richard Schulze.
On Monday, market speculation held that Schulze, whom said he would place a bid for all of Best Buy at $24 to $26 per share last August, would not be able to submit a much lower bid of $20 per share, or aggregate value of $6.7 billion.
The NY Post reported that even newly-dubbed CEO Hubert Joly said $20 per share would be a "good outcome."
Best Buy appears to be trading at $13.21 early, meaning $20 per share would offer over 50 percent premium. Might Schulze go even lower? Investors are anxious to find out.
That person, is founder Richard Schulze.
On Monday, market speculation held that Schulze, whom said he would place a bid for all of Best Buy at $24 to $26 per share last August, would not be able to submit a much lower bid of $20 per share, or aggregate value of $6.7 billion.
The NY Post reported that even newly-dubbed CEO Hubert Joly said $20 per share would be a "good outcome."
Best Buy appears to be trading at $13.21 early, meaning $20 per share would offer over 50 percent premium. Might Schulze go even lower? Investors are anxious to find out.
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