Best Buy founder Richard Schulz is weighing whether to give up privatisation

According to foreign media reports, sources said in Wednesday, Best Buy founder Richard Schulz (Richard Schulze) is weighing whether to give up the privatisation of Best Buy, and then to unite with a handful of best buy investors, to obtain a minority stake in the company's plan.

Since last summer, Schultz has been raising money around to privatize Best Buy. But the source said that Schultz did not get enough bank support to raise money to complete the deal. Schultz is currently the biggest shareholder in Best Buy and holds about 20% per cent of the company.

The talks are still in the early stages of a joint venture to buy a minority stake in the company, according to sources, and Schultz may choose other avenues. According to this model, the best Buy shares that Schultz and investors buy may be separated from the shares that Schultz holds. The news also said that the decision is still in its infancy, and Schultz may also carry out his initial strategy.

Schultz needs to make a takeover offer to Best Buy by the end of February this year. According to the revenue calculation, Best Buy is currently the world's largest home appliance chain stores. After that, the best Buy board will respond within 30 days. To date, the best Buy spokeswoman has not yet been able to

Last August, Schultz announced that he would submit a written offer to buy the remaining shares of the company that he did not hold. The deal estimates Best Buy at about $8 billion trillion. Schultz at the time said he was prepared to use at least 1 billion of his assets to participate in the deal.

Best Buy has agreed two times to extend Schultz's offer, giving him more time to connect with private-equity firms, complete deals and secure financial support from banks.

The company's share price has risen about 30% per cent this year, boosted by Best Buy's Better-than-expected earnings forecast for the previous quarter since the start of the year.