Best Buy is setting up a room for its former founder to look at the details of its financial books. That's part of a deal that Richard Schulze and Best Buy officials have agreed to on how Schulze can proceed with his plan to buy-out the publicly traded company, and take it private.
The agreement also allows Schulze to formally form a buyout group, and provides for a 60-day window in which he can put together and present a formal offer to the company's board.
MPR's Phil Picardi spoke with John Reik, who teaches at the Carlson School of Management at the University of Minnesota, about the advantages and disadvantages of taking a company private.
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