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Best Buy Founder Makes $8.5 Billion Bid To Take Company Private 300

zacharye writes "Best Buy founder and the company's largest shareholder Richard Schulze has offered as much as $8.5 billion to take the company private. Schulze had been rumored to be 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 approved. His offer amounts to between $24 and $26 per share, a premium of as much as 47% over Best Buy's stock price at Friday's close."
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Best Buy Founder Makes $8.5 Billion Bid To Take Company Private

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  • by Anonymous Coward on Monday August 06, 2012 @08:38PM (#40900835)

    Everything there is at least 40% over what it costs everywhere else.

    He should have bought it through newegg or amazon, it would save him a few billion.

  • by SuperKendall ( 25149 ) on Monday August 06, 2012 @09:32PM (#40901183)

    You know what would be a smart plan? Re-cast Best Buy as a "test the electronics" store. You charge $50/hour to rent a testing room where you can try any electronics that you like, and a means to easily order from Amazon on the spot.

    The store doesn't have to have much stock, or as many employees (since they are not moving a lot of stock around). The would of course also get affiliate commissions from Amazon for all equipment purchased.

    The difference is that it would be making money off the way people use Best Buy already...

  • by toygeek ( 473120 ) on Monday August 06, 2012 @09:50PM (#40901273) Homepage Journal

    I went in there, in desperation, looking for a SATA controller. They kid they had on the floor says "oh all the controllers are over here" and took me to the joysticks and game pads.

    That was the last time I went into Best Buy for *anything*. I refuse to walk into that store.

  • by Anonymous Coward on Tuesday August 07, 2012 @12:25AM (#40902063)

    The electrons have better resolution in them.

  • by MachineShedFred ( 621896 ) on Tuesday August 07, 2012 @07:27AM (#40903651) Journal

    Yeah, the ones are so much more oney than if you use a non-premium brand HDMI cable that costs 10% of what Monster charges! Monster's cable quality is so superior to other brands - I mean, look at how they crimp on the connection. If you don't get a nice tight crimp with all that hard plastic around it, the zeros will fall out of the cable, and you'll have a big mess on the ground behind your TV, or a bucket that you'll have to dump every once in a while.

If I have seen farther than others, it is because I was standing on the shoulders of giants. -- Isaac Newton