Shares of Best Buy (BBY) ended a volatile trading week largely unchanged. Shares spiked up sharply on Thursday after reports circulated that founder Schultz had lined up financing to make an offer for the firm. On Friday, a press release from the company indicated that a possible deal might still be far off.
Thursday's Media Reports
On Thursday, shares of Best Buy rose as much as 17% after media reports circulated that founder Richard Schulze finally arranged financing for a deal. Media reports indicated that Schulze might offer $5 to $6 billion for the troubled electronics retailer. A possible offer might value the firm between $15 and $18 per share.
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