Deals
Best Buy Says It Got No Offer From Founder Schulze
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Best Buy Co. said it received no offer from founder Richard Schulze by the deadline yesterday and will continue to focus on its turnaround.
The deadline expired and Schulze didn’t make a bid, the Richfield, Minnesota-based retailer said in a statement today. The talks ended after Schulze and private-equity investors sought three board seats in exchange for acquiring a minority stake in the world’s largest consumer electronics retailer, two people familiar with the matter said yesterday.