Shelly Palmer

Best Buy reportedly mulling between stock buyout, going private

Best Buy

While the media spotlight is often on whether or not tech companies are ready to move forward and declare an IPO, the case for Best Buy is just the opposite. The Wall Street Journal is reporting that Best Buy founder Richard Schulze is mulling over the possibility of taking the big box retailer private. The other option is for him to sell his $1.4 billion stake in the company and run. Earlier this month, Schulze announced his resignation from Best Buy’s board of directors amid the news that he was also exploring options to sell his 20 percent stake in the company. Read the full story at ZDNet.