Sun Smiles on Schulze as Best Buy (BBY) Tests Investors' Patience
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.