Richard Schulze, the founder and CEO of Best Buy, has been approved to purchase the company, this marks as the formal proof of the spreading rumours of the deal. This also means that Schulze is able to own the rest of the shares the company has, also including the 20% that he already has. Schulze offered to pay $24 or $26 per share in cash, and if Best Buy accepts his offer the company will score a premium of somewhere between 36 and 47% from the $17.64 per share it had on the 3rd of August. This will also mean that Schulze will be able to turn Best Buy from stoke market and turn it into a private firm.
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