By Mark Scott, New York Times
“Richard Schulze, the founder of Best Buy, offered to buy the electronics retailer on Monday in a deal that would value it as much as $8.8 billion.
A deal near that price would be biggest ever buyout of an American retailer, according to S.&P. Capital IQ data, topping the $8.4 billion buyout of Toys “R” Us in 2005.
Mr. Schulze, who resigned from the company’s board in June, said he would offer Best Buy shareholders $24 to $26 for each of their shares in the electronics company, according to a letter sent to the board that he made public.”