Dick Schulze Attempts to Buy Out Best Buy

By |

Dick Schulze Attempts to Buy Out Best Buy


best_buy_logo.gifNot even a month after we asked about who will fill the void if Best Buy disappears, there is news of a buy out. According to TWICE, Dick Shulze, founder and former chairman of Best Buy, is offering to buy all of the outstanding shares of the company that he doesn't already own. He is reportedly offering a price of $24 to $26 per share - in cash.

Additional Resources
• Read more industry trade news from HomeTheaterReview.com.
• See more news on troubles facing Best Buy.
• Explore the related news of Vann's bankruptcy filing.

Currently, Schulze is the largest shareholder in the company with 20.1 percent of the shares. He claims to have created a new business plan that can address the many challenges facing Best Buy. He's discussed the process with private equity firms and his financial advisor, Credit Suisse. According to these discussions, Credit Suisse believes the institution can provide the debt financing.

Schulze is even reaching out to former executives Brad Anderson and Allen Lenzmeier, seeing if they are interested in returning to the company.

So it is a buy out, but an internal one, and one that could set the company back on the right track. That is assuming this buy out even works. Then there is the question of what exactly Schulze plans to do to save Best Buy. There are still a lot of questions about this how process. We'll have to wait and see how everything pans out.

Additional Resources
• Read more industry trade news from HomeTheaterReview.com.
• See more news on troubles facing Best Buy.
• Explore the related news of Vann's bankruptcy filing.


  • Comment on this article

Post a Comment
comments powered by Disqus

Latest Industry Trade News

Sep 18
CEDIA 2017 Show Wrap-up The annual CEDIA Expo--which celebrates high-end home theater, whole-house AV, and all things custom-oriented--took place recently in San Diego. Adrienne Maxwell and Dennis Burger discuss the latest trends and new products on display.
CEDIA 2017 Show Wrap-up

Sep 11
Do You Own an AV Boat Anchor? AV technology is always advancing (sometimes quite quickly), and that means some pieces of gear inevitably get left behind. Do you own a product that became obsolete far sooner than you would've preferred?
Do You Own an AV Boat Anchor?

Sep 04
Why Aren't There More Negative AV Reviews? One question we get from some of our most loyal readers is, "How come there aren't more negative reviews on the website?" Jerry Del Colliano answers this question and gives more insight into our review process.
Why Aren't There More Negative AV Reviews?

Aug 28
MartinLogan Ends Online Partnership with Amazon and Other Retailers MartinLogan has announced that the company will no longer sell its products through Amazon.com and other current online retailers. The...
MartinLogan Ends Online Partnership with Amazon and Other Retailers

Aug 27
Have You Attended a Listening Event Recently? Looking for a pressure-free way to audition the latest AV gear? Check to see if your local specialty retailer hosts regular listening or AV demo events. Adrienne Maxwell describes a recent event she attended at Colorado's ListenUp store.
Have You Attended a Listening Event Recently?