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Best Buy store

Aug. 7 (Bloomberg) — Best Buy Co. founder Richard Schulze may be offering the best option for shareholders, even as traders question his ability to finance the fourth-largest U.S. retail takeover in history.

Schulze, who remains the electronics chain’s largest investor after stepping down as chairman in June, sent a letter to the board yesterday with an acquisition proposal of $24 to $26 a share, valuing Best Buy at as much as $9.5 billion including net debt. Even at an earnings multiple that’s the cheapest on record in the U.S. industry, the bid is as much as 40 percent higher than the stock’s 20-day price, topping the group average, according to data compiled by Bloomberg.

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