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Richard Schulze

Best Buy Founder Offers to Buy Business Back

Best Buy's founder, Richard Schulze, resigned as chairman of the company just this past June after it was revealed he'd mishandled allegations against the CEO. At the time, he was considering his options in regards to the 20% stake he had in the company, and it looks like he's finally made a decision. In a letter sent to the board, Schulze has offered to take the company private for $24 to $26 a share -- which roughly translates to $8.5 billion at the midpoint.

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