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RICHFIELD, Minn. - Best Buy Co. Inc. began its cash tender offer for Napster Inc. on Friday as part of the consumer electronic chain's $127 million buyout of the online music community.
The $2.65 per share all-cash offer is being conducted through the retailers wholly owned subsidiary Puma Cat Acquisition Corp. The tender offer will expire at midnight on Oct. 24.
Best Buy shares rose 40 cents to $39.12 in trading Friday. Meanwhile, Napster shares rose 2 cents to $2.61.
NAME_Timothy F. Geithner AGE-BIRTH DATE-LOCATION-47; August 18, 1961, New York City.
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