NEW YORK (Reuters) - Best Buy Co Inc’s (BBY.N) 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.
Reporting By Nadia Damouni; Editing by Gerald E. McCormick