28-Aug-12 14:31 ET
Event Trader: Just a reminder on BBY, prior talk was $24-26 a share
28-Aug-12 14:30 ET
Best Buy founder Richard Schulze reports sale of 2,090,909 shares at $18.30 on 7/23, worth ~$38 mln; proceeds paid in the form of a promissory note -Update
Schulze also reported the disposal of ~17.2 mln shares as a bona fide gift. Schulze and BBY have agreed to permit Schulze to form an investment group and conduct due diligence on BBY.
Briefing.com note: The sale -- on 7/23 -- occurred prior to the due diligence agreement, which was reached on 7/27. (INSID)
27-Aug-12 09:17 ET
Event Trader: Just a reminder on BBY, prior talk was $24-26 a share - Update
27-Aug-12 09:13 ET
Best Buy and Founder Richard Schulze reach agreement permitting Schulze to form investment group and conduct due diligence
BBY and founder Richard Schulze today announced that they have reached an agreement under which Mr. Schulze will be granted access to certain due diligence information and permission to form an investment group with private equity sponsors in furtherance of making a fully financed proposal to acquire the Co. Best Buy stated that the agreement establishes a non-exclusive, orderly process which satisfies the requests made by Mr. Schulze, while at the same time protecting the interests of all shareholders.
busy26795 I don't think the street has any faith in Schulze, if so the stock would be over $20 right now, so I'm kinda skeptical myself of any of this. Don't get me wrong I hope it happens as I have 5k shares, but I'm not holding my breath.