Best Buy Awarded with Antitrust Approval to Acquire Napster

Best Buy Awarded with Antitrust Approval to Acquire Napster

Best Buy,  the largest specialty retailer of consumer electronics, has been granted with antitrust approval to acquire Napster.
With the deal, both companies are anticipating to closely compete with iTunes which holds more than 70 percent of the market. The Federal Trade Commission has broke the news on Wednesday in a listing that agency posts weekly.

Napster has been offered $2.65 per share by the retailer giant. The deal, which came out last month, was valued at $121 million. Best Buy has initially offered a 95% premium to Napster .