NEW YORK, Aug. 6, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, announces that it has been retained to investigate the acquisition of the remaining shares of Best Buy that Richard Schulze does not already own. Richard Schulze, Founder and former Chairman of Best Buy Co., Inc. submitted a written proposal to the Best Buy Board of Directors to acquire all of the outstanding shares of the company that he does not already own for a price of $24.00 to $26.00 per share in cash. Schulze is Best Buy's largest shareholder, controlling 20.1% of Best Buy shares.
Schulze is in talks with former Best Buy officers and directors about acquiring the company. The investigation concerns whether the price being offered to shareholders is fair. Indeed, analysts have projected that the true going forward value of the company is at least $36 per share. As the founder and chairman of the company, Schulze has inside information regarding the true value of the company and his and other management's stake makes it difficult for shareholders to get a fair voting process.
If you are a shareholder of Best Buy and would like additional information, please contact us toll free at 877-772-3975 or email at firstname.lastname@example.org
Tripp Levy PLLC
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