media tech capital partners.
>> best buy founder wants the
stores back.
shultz has offered to take the
stores private.
the offer is 24 to $26 per
share.
ho the higher price, it values
the company at $8.8 billion.
erica miller in manhattan with
what could be one of the
biggest buyouts in recent
years of an american retailer.
>> best buy founder has made a
generous offer for the stores
but faces an uphill battle
getting the board to approve
it.
in a public letter.
addressed to best buy's board,
richard schulze says quote,
"bold and extensive changes are
needed for best buy to return to
market leadership."
he is proposing to buy out the
company, using his own money,
private equity funds and some
debt.
so would going private be the
right strategy for best buy?
>> it may make sense for best
buy to be a privately held
company, especially if you have
the backing of private equity.
with retail and turnaround
experience.
frankly, this company has a lot
of work ahead of them to stay