Best Buy Founder Requests Data In $8.8B Takeover Push

Law360, New York (August 16, 2012, 5:15 PM EDT) -- Best Buy Co. Inc. founder Richard Schulze on Thursday redoubled his bid for a takeover that values the Richfield, Minn.-based electronics retailer at up to $8.8 billion, demanding in a public letter that the company turn over financial data needed to secure investments from several private equity firms.

Schulze, who founded Best Buy 46 years ago and stepped down as chairman in early June with a 20.1 percent controlling interest in the lagging electronics giant, publicly announced the takeover bid Aug. 6. The deal would offer...
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