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Tuesday, Feb 26
Best Buy (BBY -3.2%) -1.3% AH, adding to the day's losses, after 5 sources tell Reuters Richard...
Best Buy (BBY -3.2%) -1.3% AH, adding to the day's losses, after 5 sources tell Reuters Richard Schulze's buyout attempt is in jeopardy thanks to financing issues. Schulze is now said to be focused on a minority investment, one that could a PIPE transaction, but investors are said to remain hesitant. Talks with P-E firms Leonard Green, Cerberus, and TPG have reportedly made little progress. Schulze is facing a Thursday deadline to deliver a buyout proposal. (Feb. 13 WSJ report) Update: Best Buy has pushed back its FQ4 report by a day to March 1 to if Schulze makes a bid.