Great article just put on yahoo....this is just part of it but sounds good to me!!
Although the financial review is not complete, Schulze has indicated that he would offer up to $26 per share for the company, over double the stock’s price on November 21.
Bloomberg’s sources indicate that Best Buy could grant Schulze’s request for extra time within the next few days. The company’s management is likely warming up to the idea of the buyout offer as the stock price continues to decline. If the company fails to execute on its turn-around strategy then Schulze’s offer quickly becomes the best option for both the company and shareholders.
Best Buy will want to make sure that Schulze can line up appropriate financing for the deal, said Bloomberg’s sources. However, funding doesn’t seem to be an issue with a single one of the three private-equity firms Schulze has on board reportedly able to throw down for the deal.
This holiday season won’t make or break Best Buy, but if sales are bad it will certainly help make the company’s decision easier. From all accounts Schulze’s offer is generous, and there’s no doubt he has a competent plan of recovery and the company’s best interests in mind.
Best Buy down but not out..seeking alpha..11/21 said.."Additionally, by the end of the holiday quarter, the company's balance sheet should be almost free of net debt, giving Best Buy flexibility as it cements its strategy going forward." That's why the investor (private) would want this stock
Can't you almost feel the anticipation? Today's WSJ has an article about Best Buy quoting BBY mngt as saying it is willing to do a deal with Richard. Recent articles about financing getting arranged. Seems everyone is working toward the same goal toward getting a deal done. Getter done!!