Best Buy's (BBY) board and Richard Schulze, the company's founder and former chairman, have agreed to extend the deadline for a potential takeover bid by Schulze until February 28, CNBC's David Faber reports. Schulze has a window of February 1 to February 28 to submit a takeover proposal for the struggling retailer, Faber added. Shares of Best Buy dropped 8%, or $1.16, to $12.96 in pre-market trading following Faber's report.
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