Reuters: Private Equity: No bid by Best Buy ex-chairman to come soon-source

Reuters: Private Equity Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

No bid by Best Buy ex-chairman to come soon-source Jul 2nd 2012, 17:29 NEW YORK, July 2 | Mon Jul 2, 2012 1:29pm EDT NEW YORK, July 2 (Reuters) - Best Buy Co Inc's former Chairman Richard Schulze is not expected to present a buyout or other proposal to the company's board anytime soon, a person familiar with the situation said. Media reports said Schulze was close to presenting an offer for the consumer electronics chain. Discussions around a leveraged buyout of the company are still in the early stages, the person said. A representative for Schulze and Best Buy declined to comment.

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