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Best Buy Co., Inc. Message Board

  • toughmudder456 toughmudder456 Nov 22, 2012 12:20 PM Flag

    Schulze to update shareholders?

    It would be nice to hear:

    - New range 17-20 based in due diligence
    - 3 equity partners committed
    - 2 banks committed
    - Formal offer and price dependent on SSS during 1st half of holiday season

    I believe he's due to update shareholders at this stage

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The word on the street is that Schulze asked for the 30-day extension and received it. However, there is uncertainty around when the 30 day period began. Some say it began on or about November 15th. Others have said that it happened early this week. Still others are saying that it is expected to start within a few days.

      Regardless of all of the dates, if we don't see an update from Schulze by Christmas then there will likely be "no deal." I consider the odds of that happening to be very, very small. The only big question in my mind is what the offer will be? $15? $18? $20? $26?

      While I'd "love" to see the update you suggested above as soon as possible, I don't believe we'll see an update until early to mid-December.

      Get 'er done, Schulze!

      • 3 Replies to cameron12x
      • ....Logically, it would be safe to say that this Wednesday's meeting of the minds, (Joly & Schulze) requested/reviewed/discussed Schulz's Extension request...and that the Extension begin -date is/was Thanksgiving or this Friday, Black Friday. [This was also mentioned in Star Tribune as "...DD will end a few days after mid-November"]... thus, it must have been this week...!.....
        ..... Actually, as I understand it, this is just a FREE Time-Game Insurance policy for Shulze's team they can do more under privilege and bust out their Buyout price anytime during this time anyway; all the while buying them free time to BBY's "Data Room"..!
        ...All in all, time is of the essence, and as was reported earlier, a $20 price now - is a 70% increase in the bag. The entire Board owns between 220K and 450K shares they've got their own current stock losses to ponder while they do their Xmas shopping and buy their wives's fancy cars from Lexus !!!

        p.s- Everyone has also forgotten TGT's potential counter-bid !!! ...BBY is very cheap now for Target to buy $48b in annual sales for only $8.5b of their stock ...!....A wise move for TGT it would be !!!

        Best to all,
        JT, in NY

        Sentiment: Buy

      • Early to mid December? The way BBY drops it'll be $3 by then and Schultze could come out and offer $6. He**ck, it lost 40% in a bit more than a week, what is another 70% in 2-3 weeks?

      • I'm in at 11.46,,,,The Man wants His Baby back!

        Sentiment: Strong Buy

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