Andre Yoskowitz
13 Dec 2012 11:45
Best Buy founder Richard Schulze is preparing to make a fully financed offer to buy back the company for up to $6 billion.
The billionaire has a mid-December deadline for any bids.
Originally, in August, Schulze made an initial offer of $8.2 billion, with the added purchase of debt for another $2 billion. Since then, however, Best Buy shares have continued to fall and analysts always had doubts as to whether the original bid was even feasible.
The reports claim Schulze will meet with his top advisors this week.
Schulze founded the company in 1966 and remains a 20 percent owner.