Best Buy Founder's Takeover Attempt Is In Big Trouble
AP
Olivia Oran and Jessica Toonkel at Reuters spoke with five sources "familiar with the matter" who all say that Schulze's bid is in trouble.
Schulze originally tried a full takeover bid but that failed, so he went to a backup plan.
Over the past few weeks, Schulze has been trying to get private equity firms on board to buy a non-controlling stake in Best Buy.
But that might not pan out either.
The potential investors are "unconvinced" that Best Buy can compete with online retailers like Amazon, according to Reuters' sources.
Schulze has until Thursday to submit a bid to the Best Buy board. The company has postponed its fiscal Q4 earnings release by one day to wait for Schulze's bid.
- Butterfly basin: Astronomers find the biggest known reservoir of planet-forming ingredients around a young star!
- SEBI grants LIC three more years to achieve 10% public shareholding
- ISRO’s Aditya L1 and Chandrayaan-2 get front-row seats to the strongest solar storm in over 20 years
- 95% of PM Modi’s assets are in fixed deposit! From investments to education, here are key takeaways from his nomination filing
- Virat Kohli-backed Go Digit IPO subscription opens today — all you need to know
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market