Fails attempt acquisition of retailer Best Buy

The network of American electronics stores Best Buy will be forced to follow with their restructuring, as the founder of the company, the American billionaire Richard Schulze, failed to add money and make an offer to purchase the company within the prescribed period, as announced yesterday the retailer. Schulze had until midnight Thursday to present an offer to purchase-deadline had already been extended in December.
The founder of the company had made an informal proposal to buy the Best Buy for a value ranging from $ 24 to $ 26 per share in August. But failed to raise the capital required for business, according to a source familiar with the matter.
With that, the negotiations for sale of finished, especially after Best Buy have refused a proposal of minority investment by three private equity partners of founder Schulze.
They wanted three seats on the Board of the company, according to sources familiar with the situation.
Results. The largest chain of electronics stores in the world yesterday announced higher than expected quarterly profit, helped by better sales in the United States. So, its shares climbed almost 5% in trading yesterday on the New York Stock Exchange.
In his first Christmas season under new Chief Executive Officer, Hubert Joly, the company managed to reduce its net loss, there's a year was $ 1.82 billion, to $ 409 million.
Excluding special items such as restructuring charges, profit from continuing operations fell to $ 1.64 per share, up from $ 2.18 per share in the same stage of the previous year.