Best Buy founder may change purchase plans

02/13/2013 | Wall Street Journal, The

Best Buy founder Richard Schulze is reportedly considering scrapping his plan to assemble an investor group to acquire the entire company in favor having the group take a minority stake, which would likely be separate from the 20% interest he now owns. Schulze submitted his first proposal to buy the company in August, valuing it at about $8 billion, and has until the end of this month to assemble the financial backing he needs to finalize a deal.

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