According to a report from Bloomberg, Best Buy founder Richard Schulze, who stepped down from the company back in June, is interested in reacquiring the struggling retail chain. Schulze will reportedly offer Best Buy stockholders somewhere between $24 and $26 per share. Schulze is also reportedly interested in making Best Buy a private company once again.
In his letter to the Best Buy board of directors, Schulze says that former CEO Brad Anderson and former President and COO Allen Lenzmeier will rejoin the company as well.
“I have been actively exploring all available options for my ownership stake,” Schulze, 71, said in the letter. “That exploration has reinforced my belief that bold and extensive changes are needed for Best Buy to return to market leadership and has led me to the conclusion that the company’s best chance for renewed success will be to implement these changes under a different ownership structure.”