![[VIDEO] Mariah Carey has wardrobe malfunction on "Good Morning America"](http://cdn.ph.upi.com/sblc/8441369416205/4/VIDEO-Mariah-Carey-has-wardrobe-malfunction-on-Good-Morning-America.jpg "[VIDEO] Mariah Carey has wardrobe malfunction on \"Good Morning America\"")
![[PHOTOS] 2013 Celebrity Couples](http://cdn.ph.upi.com/sblc/8441369416205/8/PHOTOS-2013-Celebrity-Couples.jpg "[PHOTOS] 2013 Celebrity Couples")
1.
Snapple co-founder dies at 85
MINNEAPOLIS, Dec. 14 (UPI) -- Best Buy says it will give founder Richard Schulze additional time to prepare his bid to buy the struggling U.S. electronics retailer.
Best Buy's board of directors, which in August gave Schulze a Dec. 16 deadline to come up with a fully financed deal, said Friday it has agreed to extend the deadline to Feb. 28.
"Both parties believe that allowing Mr. Schulze to bring his offer after the holiday season and fiscal year end is in the best interests of shareholders and provides Mr. Schulze and his potential partners with an opportunity to include the company's full year results as part of their due diligence review.," Best Buy said in a statement.
The board will have 30 days to review any offer made by Schulze.
Shares of Best Buy, which rallied Thursday ahead of reports of an imminent bid, tumbled 15 percent Friday morning after the announcement was made. Analysts are now wondering if Schulze is having problems finding private equity partners to support a bid, CNN Money said.
|
|
|
|
|
|
| Additional Business News Stories | |
ALGIERS, Algeria, May 24 (UPI) --
Algeria's government is under pressure to ease its foreign energy investment laws after BP warned it may delay important projects in the North African state.
|
ARLINGTON, Va., May 24 (UPI) --
BAE Systems has received a two-year contract extension from the U.S. Army Space and Missile Defense Command to support its Future Warfare Center.
|
Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
|
Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
|
| Stories | Photos | Comments |
View Caption
