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News Summary: Best Buy gives Schulze bid extension

Source : AP
Last Updated: Fri, Dec 14, 2012 17:00 hrs

: Best Buy shares fell on Friday after the struggling electronics retailer said it extended the window for co-founder Richard Schulze to make a buyout bid until after the holiday season.

THE BACKGROUND: Schulze has been considering making a bid for Best Buy since June. A report on Thursday said it might come by the end of this week. But Best Buy said it would extend the deadline until after the holidays.

WHAT'S NEXT: Schulze can make his offer between Feb. 1, 2013 and Feb. 28, 2013. The original deadline had been this Sunday.

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