Best Buy completes tender offer for Napster

MINNEAPOLIS Best Buy announced that it has concluded the cash tender offer by its wholly-owned subsidiary, Puma Cat Acquisition, to purchase all outstanding shares of common stock of Napster. The tender offer was made in accordance with the previously-announced agreement and plan of merger, dated Sept. 14, among Best Buy, Puma Cat and Napster.

“We’re pleased that our tender offer was successful. We look forward to concluding the merger so that we can begin the work of increasing Napster’s subscribers and building on its capabilities in the digital media space,” said David Morrish, evp of connected digital solutions for Best Buy.