Report: Best Buy Founder to Make $5-$6 Billion Bid

Best Buy Co Inc (BBY) founder Richard Schulze is expected to make a fully financed offer to buy the consumer electronics retailer by a mid-December deadline, the Minneapolis Star Tribune reported, citing a source. Schulze's bid would be at least $ 5 billion to $ 6 billion, the newspaper reported late Wednesday, citing the source. Best Buy shares jumped 14.5 percent to $ 13.94 in early trading. At that price, the retailer has a market value of $ 4.71 billion. Schulze's bid at that level would be well below his initial offer range in August, when he said could acquire [...]