Ex-Best Buy Chairman Not Expected to Present Buyout Soon

Date : 07/02/2012 @ 3:40PM
Source : Dow Jones News
Stock : Best Buy Co., Inc. (BBY)
Quote : 55.83  0.37 (0.67%) @ 6:12PM

Ex-Best Buy Chairman Not Expected to Present Buyout Soon

Best Buy (NYSE:BBY)
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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

Write to nymonitoring@dowjones.com

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