Consumer electronics retailer Best Buy Co. Inc. (BBY) reported that the deadline by which its Founder, Richard Schulze, could make an offer to buy the company expired yesterday, February 28, 2013, at the end of the day. According to the company, it received no such offer and would continue focussing on its transformation for the benefit of its shareholders.
Earlier, there were reports that Schulze would make a fully financed buyout offer of at least $5 billion - $6 billion for the company. In the pre-market trading, the shares were up around 6% on the NYSE.
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