UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 10, 2021
BEST BUY CO., INC.
(Exact name of registrant as specified in its charter)
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Minnesota |
| 1-9595 |
| 41-0907483 |
(State or other jurisdiction of incorporation) |
| (Commission File Number) |
| (IRS Employer Identification No.) |
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7601 Penn Avenue South |
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Richfield, Minnesota |
| 55423 |
(Address of principal executive offices) |
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Registrant’s telephone number, including area code (612) 291-1000
N/A
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading symbol | Name of exchange on which registered |
Common Stock, $0.10 par value per share | BBY | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
On October 10, 2021, Best Buy Co., Inc. (the “Company” or “registrant”) entered into an agreement to acquire Current Health Ltd., a leading care-at-home technology platform that brings together remote patient monitoring, telehealth, and patient engagement into a single solution for healthcare organizations. Current Health Ltd. is headquartered in Edinburgh, United Kingdom.
The transaction is subject to regulatory approval and customary closing conditions and is expected to close by the end of the Company's fiscal 2022 fourth quarter. The acquisition will be financed with cash and is not expected to impact the Company’s previously communicated plan to spend more than $2.5 billion on share repurchases during fiscal 2022.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following is furnished as an Exhibit to this Current Report on Form 8-K.
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Exhibit No. |
| Description of Exhibit |
104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| BEST BUY CO., INC. |
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| (Registrant) |
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Date: October 12, 2021 | By: | /s/ TODD G. HARTMAN |
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| Todd G. Hartman |
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| Executive Vice President, General Counsel, Chief Risk Officer and Secretary |
