An investigation on behalf of investors of Best Buy Co., Inc. (NYSE:BBY) in connection with a potential takeover was announced and NYSE:BBY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/18/2012 -- An investigation on behalf of investors in Best Buy Co., Inc. (NYSE:BBY) shares was announced concerning whether a takeover of Best Buy Co., Inc. would be unfair to investors in NYSE:BBY shares.
Investors who purchased shares of the Best Buy Co., Inc. (NYSE:BBY) and currently hold any of those NYSE:BBY shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm is at an early stage and concerns whether a potential takeover would be unfair to Best Buy Co., Inc. (NYSE:BBY investors.
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.
However, given that the Founder of Best Buy Co. and its former Chairman currently is Best Buy Co.’s largest shareholder, who controls approximately 21% of Best Buy shares, and the fact that shares of Best Buy Co., Inc. (NYSE:BBY) traded in 2011 as high as $35.62 per share, and in 2010 as high as $48.58 per share, the investigation a law firm concerns whether a buyout would be in the best interest of NYSE:BBY shareholders.
Specifically the investigation concerns whether the Best Buy Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Best Buy Co., Inc. (NYSE:BBY) and purchased their Best Buy Co., Inc. shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com