Dec. 13, 2012 (Update) -- On December 13, 2012, several news reports stated that the founder and former Chairman of Best Buy Co. will soon make an offer to take Best Buy Co. over. Under the terms of the proposed transaction, the stockholders of Best Buy will receive between $24 and $26 in cash for each share of Best Buy common stock they own.

August 07, 2012 (Shareholders Foundation) -- The takeover offer by the former chairman of Best Buy Co., Inc. to acquire Best Buy Co., Inc. prompted an investigation for NYSE:BBY investors concerning whether the offer is unfair to NYSE:BBY stockholders.

On Monday, August 6, 2012, Best Buy Co., Inc. (NYSE: BBY) confirmed that its Board of Directors has received a letter requesting due diligence and outlining an unsolicited, highly conditional indication of interest from Richard Schulze, former chairman of Best Buy, to acquire all of the outstanding shares of Best Buy that he does not already own for a per-share price of $24 to $26.

Shares of Best Buy Co., Inc. (NYSE:BBY) jumped from $17.65 per share on Friday, August 3, 2012, to $21.28 on Monday, August 6, 2012.

However, at least one analyst has set the high target price for NYSE:BBY shares at $36.00 per share. In addition, NYSE:BBY shares traded as recently as March as high as $27.51 per share.


Therefore the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:BBY stockholders. Specifically, the investigation focuses on whether the Best Buy Board of Directors will undertake an adequate sales process, adequately shop the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.