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Best Buy reportedly reaches out to Schulze to resume talks
Minneapolis -- A Thursday report by Bloomberg, citing unnamed sources, said that Best Buy Co. has rekindled its talks with co-founder Richard Schulze about an agreement that would allow Schulze to launch due-diligence efforts toward his proposed acquisition of the company.
Best Buy reportedly reached out to Schulze shortly after announcing quarterly earnings on Aug. 21 that missed Wall Street estimates, according to one of the unidentified sources, who also said that both parties could reach an agreement later this week.
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Report: Rona dealers critical of Lowe’s offer
New York -- A group of Rona Inc.'s dealers on Wednesday released an open letter on Wednesday that criticized the proposed takeover of the Canadian home-improvement retailer and distributor by Lowe’s Cos., Reuters reported.
The letter, which was addressed to Lowe's CEO Robert Niblock, was signed by merchants that operate 164 affiliate or franchise Rona stores.