Raking in more than $1 billion in cash every year and sitting on very little debt, the retailer has become a tempting target for a private takeover, according to what industry analysts are telling the Star Tribune.
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Residents asked to be on the lookout for at-large suspect in Sauk Rapids
The suspect was last seen near the intersection of Garden Brook Drive Northeast and Strawberry Court Northeast.
Ben Simmons rumor mill running hot and Wolves still connected
Can the Timberwolves still land the 76ers star?
Aquifer energy storage project wins financial backing of Mpls city council
It'll be used to power the Towerside Innovation District near the U of M.
Bomb threat prompts school evacuation in central Minnesota
A search of the building did not find any suspicious items.
Double shooting leaves 1 dead, 1 'critically wounded' in St. Paul
It's the city's 29th homicide this year.
Brewery, taproom moving into former Twin Cities newspaper space
Loons Landing officially signed the lease this week.
Police: Car with dog inside stolen from outside Twin Cities liquor store
They're asking people to be on the lookout for the vehicle.
Murder charge filed over inmate's death at Chisago Co. Jail
The man suddenly became unresponsive and died while in a holding cell.
Minnesota DFL lawmakers form Reproductive Freedom Caucus
The move comes as some Republicans explore proposals to limit abortion access.
Counties without K-12 mask mandate see sharper rise in child COVID cases
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Bloomington woman dies in crash on southwest Twin Cities highway
The collision happened just south of the Minnesota Renaissance Festival grounds.
Schulze commited to Best Buy takeover
More than a week after he went public with his bid to take the Richfield-based electronics giant private, co-founder Richard Schulze sent a letter to the Best Buy Board of Directors requesting permission to form a group and conduct basic due diligence so that he can present a fully financed offer for the company. Schulze wrote, "you should know that I am not going away."
An electric week for Best Buy
Minnesota-based electronics retail giant Best Buy, reeling from a string of bad news in recent months, had another interesting week. On Thursday, founder Richard Schulze cut ties to the company's board. Would he sell his stake in the company, position himself for a private takeover, or something else?
Report: Buyout bid for Best Buy could come as soon as next week
Best Buy founder Richard Schulze will likely make an initial offer to take the company private next week, the Star Tribune reports. That's after CEO Hubert Joly is expected to present his strategy to investors in New York. Joly had to postpone the meeting with Wall Street analysts after the destruction of Hurricane Sandy.
Could Best Buy be a good buy for Target?
Louis Johnston, chair of the Department of Economics at the College of Saint Benedict and Saint John's University, says merging the two Minnesota-based companies could be a win-win for the state's economy. (Photo Courtesy: MinnPost illustration by Christopher Henderson)
Best Buy founder offers $26 a share to buy retailer
Best Buy Co. founder Richard Schulze, who stepped down as chairman this year, has offered to take the electronics retailer private at $24 to $26 a share, Bloomberg reports. Credit Suisse Group AG, Schulze’s financial adviser, is confident it can obtain financing for an offer, according to a letter sent to the board Monday. “I have been actively exploring all available options for my ownership stake,” Schulze, 71, said in the letter. Best Buy shares surged as much as 34 percent in early trading.
Ratings agencies among skeptics of Schulze's plan to buy Best Buy
Richard Schulze may have trouble financing his offer to buy up all the shares of Best Buy. He'd need to take on an estimated $7 billion in debt to swing the deal. That prospect led both S&P and Fitch to further reduce Best Buy's already poor credit rating.
Key financiers support Schulze bid for Best Buy
Best Buy Co. Inc. founder Richard Schulze has recruited four big-name private equity firms – KKR & Co., Leonard Green & Partners, TPG Capital and Apollo Global Management – to help bankroll his $8.8 billion plan to buy the company, the Star Tribune reports.
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