Shulze has until December 16th at the latest to make BID :0}
By Joshua Fineman and Clyde Eltzroth
Nov. 28 (Bloomberg) -- Richard Schulze faces possible
Dec. 16 deadline to make bid for Best Buy, DealReporter said
late yday, citing person familiar with matter.
• BBY appears to be “posturing” with claim that deadline won’t be extended: person familiar
• BBY, Schulze didn’t immediately return calls for comment from dR
• NOTE: Bloomberg last week said Schulze working with Cerberus, TPG, Leonard Green, asked for 30 days to review BBY finances
I agree. I'm pretty long BBY, and would love the buyout, but I don't mind holding for the turnaround. What I *DO* mind is the constant delays and the buyout hanging over the stock. Its' not good for the company or the stock. Let the chips fall where they may, and then we can make decisions based on what we know. Schulze needs to pizz or get off the pot already. I'm tired of this nonsense.
He has had PLENTY of time to make his bid. I did not like the BOD's initial reaction to Schulze, they were too negative about a bid, but now I think it's time for the BOD to get tough with him. He has had more than enough time. Why give him longer to see more numbers? He has a conflict of interest because he is both buyer and seller. I hope the firm stands pat on the Dec. 15th deadline.
Enough games, Schulze. Make the bid or #$%$ already.
Patience will be rewarded, picked up cheap shares today as some Market Maker took out Stop Loses, only to watch the stock price rebound in a matter of a few minutes. Do not put a stop loss in on stocks such as this as you leave yourself open to be taken out only to watch as the stock rebounds and more.