Read The Letter Best Buy Founder Richard Schulze Sent To The Board

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 Best Buy founder Richard Schulze is still trying to get the consumer electronics retailer's board to allow him to buy the embattled company. This morning, he sent another letter in an attempt to convince the board to grant him access to the financial information he needs to secure financing, reports Dhanya Skariachan at Reuters. "I am deeply concerned about the direction of the company and, as Best Buy’s largest shareholder, I cannot simply stand aside," writes Schulze in the letter. "I still hope to work with the Board on a mutually beneficial transaction – but you should know that I am not going away." Read the full letter below, from Business Wire: 

Ladies and Gentlemen:

This is a critical time for Best Buy. The decisions that you make over the next few days and weeks may well determine the fate of this great company. As such, the Board has a duty to ensure it is fully informed about all available options as it seeks to achieve the best outcome for Best Buy and its shareholders.

On August 6, after repeated requests to the Board to provide me with due diligence information and the consent to form a group required under Minnesota law, I made public my proposal to acquire all of the common stock of Best Buy for $24.00 to $26.00 per share in cash. In response, you dismissed my carefully considered proposal as a “highly conditional indication of interest.” I would have preferred to have a constructive private dialogue with the Board, but once having made my proposal, I was required as a 13D filer to make it public. ... Continue to read.

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• Reuters - Best Buy's Schulze 'Not Going Away' (pehub.com)