Schulze expected to make bid for Best Buy Friday, report says - Bring Me The News

Schulze expected to make bid for Best Buy Friday, report says

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The Star Tribune reports Best Buy Co. founder Richard Schulze will make an offer to purchase the struggling electronics retailer by the end of the week.

Schulze has until Sunday's deadline, but the newspaper says the offer between $5 billion to $6 billion could come Friday.

The buyout was previously expected to be as much as $7 billion.

Schulze and his team secured agreements to finance the deal from bankers and private equity investors over the weekend. He will meet with his top investors in Minnesota Thursday and Friday as they prepare to move forward.

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