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Originally published Thursday, August 16, 2012 at 8:14 AM

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News Summary: Schulze committed to Best Buy bid

PRESSING ON: Richard Schulze, co-founder of Best Buy and its former chairman, said Thursday that he remains committed to his offer for the consumer electronics company.

The Associated Press

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PRESSING ON: Richard Schulze, co-founder of Best Buy and its former chairman, said Thursday that he remains committed to his offer for the consumer electronics company.

THE OFFER: He made a bid of $24 to $26 per share 10 days ago, which would take the retailer private if it goes through.

LINING UP SUPPORT: While some analysts have wondered if Schulze may have trouble lining up investment firms to help pay for the transaction, Schulze said in a letter to Best Buy Co.'s board that he's heard from a number of private equity firms prepared to make "significant commitments."

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