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Best Buy Co-Founder to Make Privatization Bid

December 13, 2012
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Best Buy co-founder Richard Schulze will make a fully financed offer to purchase the electronics retailer by the end of the week, possibly on Friday, according to the Star Tribune. A formal proposal to the board of directors before the Sunday deadline is expected to be at least $5 billion to $6 billion. 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, according to the article, citing an anonymous source....

 

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In the latest effort to beat Amazon.com at its game, Target says that for the first time it will match prices that consumers find on identical products at select online competitors this holiday season. Target's CEO Gregg Steinhafel told about 80 reporters at a company media conference Tuesday that the retailers include Amazon, Walmart.com, Bestbuy.com, Toysrus.com and babiesrus.com. Target's bold price match program will run from Nov. 1 through Dec. 16.


 
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