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    HomeIn MediaGadget NewsBest Buy $8.5-Billion Privatized Plan

    Best Buy $8.5-Billion Privatized Plan

     

    Best Buy founder and the company’s largest shareholder Richard Schulze has offered $8.5 billion to take the company private, according to reports.  It was speculated that Schulze was preparing a takeover offer for some time, and he recently assembled a team of executives that will run the company if his buyout offer is stamped with approval.

    His offer equates to between $24 and $26 per share, a premium of as much as 47% over Best Buy’s stock price at Friday’s close. Shares of Best Buy jumped 24.55% to $21.97 in pre-market trading on news of Schulze’s offer.  More to come with this story as it unfolds.

    David Novak
    David Novakhttps://www.gadgetgram.com
    For the last 20 years, David Novak has appeared in newspapers, magazines, radio, and TV around the world, reviewing the latest in consumer technology. His byline has appeared in Popular Science, PC Magazine, USA Today, The Wall Street Journal, Electronic House Magazine, GQ, Men’s Journal, National Geographic, Newsweek, Popular Mechanics, Forbes Technology, Readers Digest, Cosmopolitan Magazine, Glamour Magazine, T3 Technology Magazine, Stuff Magazine, Maxim Magazine, Wired Magazine, Laptop Magazine, Indianapolis Monthly, Indiana Business Journal, Better Homes and Garden, CNET, Engadget, InfoWorld, Information Week, Yahoo Technology and Mobile Magazine. He has also made radio appearances on the The Mark Levin Radio Show, The Laura Ingraham Talk Show, Bob & Tom Show, and the Paul Harvey RadioShow. He’s also made TV appearances on The Today Show and The CBS Morning Show. His nationally syndicated newspaper column called the GadgetGUY, appears in over 100 newspapers around the world each week, where Novak enjoys over 3 million in readership. David is also a contributing writer fro Men’s Journal, GQ, Popular Mechanics, T3 Magazine and Electronic House here in the U.S.

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