Best Buy Falls After Extending Schulze’s Offer Deadline

Best Buy Co., the world’s largest consumer-electronics retailer, fell the most in a year after giving founder Richard Schulze more time to study the company and arrange financing for an offer to take it private.

Best Buy agreed that it was in the best interest of shareholders to let Schulze and his partners include results from the holiday season in their due diligence review, the company said today in a statement. Schulze can now make a proposal to buy the company in February.