Report: Best Buy founder interested in reacquiring company

According to a report from Bloomberg, Best Buy founderб═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 betweenб═$24 and $26б═ per share.б═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 formerб═CEOб═Brad Anderson and formerб═President and COO Allen Lenzmeier will rejoin the company as well.

Б─°I have been actively exploring all available options for my ownership stake,Б─² Schulze, 71, said in the letter. Б─°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 companyБ─≥s best chance for renewed success will be to implement these changes under a different ownership structure.Б─²

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  1. [...] news comes just two weeks after Best Buy founderб═Richard Schulze expressed his interest in re-acquiring the retail store chain and making it a private company again.б═Schulze even said that he would bring back former Best Buy [...]

  2. [...] first expressed interest in re-acquiring the struggling retailer earlier this month after he stepped down. He'd [...]