The deal initially had been expected to be complete last month before it wasdelayed by regulatory review. The takeover bid for all issued and outstanding common shares of Future Shop at $10.79 per share is scheduled to expire Oct. 31. The company anticipates that all conditions to the takeover bid will be satisfied by the expiration date, including the required approvals by Canadian Heritage and Industry Canada.

Once that is done, Best Buy will be able to complete the deal.

Best Buy, which recently bought the Musicland chain, has 1,700 stores.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.