Best Buy founder presses on with $11b buyout plan

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By By Greg Roumeliotis and Paritosh Bansal, Reuters

Best Buy Co Inc founder Richard Schulze and at least four private equity firms have started examining the books of the world’s largest consumer electronics chain, in early steps toward what could become a potential $11 billion buyout, according to people familiar with the matter.

Shares of Best Buy jumped 3.4 percent to $17.55 in premarket trading Wednesday. The stock closed just under $17 on Tuesday, near four-year lows.”

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