Best Buy Founder Gets Green Light to Pursue Buyout
Best Buy Co. founder Richard Schulze won a victory in his attempt to take control of the retailer, getting a green light to make an offer. Now the pressure will be on Mr. Schulze to show he has a real deal up his sleeve.
Mr. Schulze and Best Buy’s board said Monday that they have agreed to terms under which Mr. Schulze will be granted access to the company’s financial information and allowed to recruit partners to pursue a buyout of the 1,400-store chain.
