Richard Schulze, the founder and former chairman of Best Buy Co. (BBY), isn't expected to present a buyout offer for the electronics retailer soon, Reuters reported, citing a person familiar with the situation.
Talks concerning a potential bid are still in the early stages, the person told Reuters.
Earlier today, Best Buy shares were up more than 10% amid buyout speculation. The stock recently traded at $22.07, up $1.11 or 5%.
Full story at http://www.reuters.com/article/2012/07/02/us-bestbuy-lbo-idUSBRE86110V20120702
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