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Best Buy bulks up with Future Shop deal.(Best Buy Company)(Brief Article)
Byline: Katie Anderson
Best Buy Co. Inc., the retailer of technology and entertainment goods, will buy Future Shop Ltd., Canada's largest consumer electronics retailer, for about C$580 million ($377 million) as Best Buy's highly acquisitive CEO Richard Schulze continues to snap up his competitors.
Eden Prairie, Minn.-based Best Buy will pay C$17 ($11.07) in cash for each Future share in a bid to become North America's "premier retailer" of technology and entertainment products. Inwest Investments Ltd., which holds about 69% of Future Shop's outstanding shares, agreed to tender its shares to Best Buy's offer.
Burnaby, British Columbia-based Future …
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