Schulze gets the green light from Best Buy on due diligence

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“MINNEAPOLIS–(BUSINESS WIRE)–Best Buy Co., Inc. (NYSE: BBY) and founder Richard Schulze today announced that they have reached an agreement under which Mr. Schulze will be granted access to certain due diligence information and permission to form an investment group with private equity sponsors in furtherance of making a fully financed proposal to acquire the Company.

Best Buy stated that the agreement establishes a non-exclusive, orderly process which satisfies the requests made by Mr. Schulze, while at the same time protecting the interests of all shareholders. Mr. Schulze stated that he was pleased that an agreement was reached which will allow him to conduct the due diligence he had sought.”

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