Founder Richard Schulze fails in his bid to retake Best Buy



By Thomas Lee, Star Tribune

“Best Buy founder Richard Schulze failed Thursday to make a bid to acquire the company, and negotiations for Schulze to return to the board of directors also collapsed.

Schulze was facing a deadline Thursday to make a formal offer to buy the company. Instead he spent most of the day trying to negotiate ways to expand his partial control of the board with the help of one his investors, according to sources close to the situation.”

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