Best Buy founder Richard Schulze, who recently stepped down, made an offer to take the company private yesterday. He’s proposing a buyout at between $24 and $26 a share.

The news caused Best Buy’s stock price to jump to its highest point in more than three years, however it’s unclear at this point whether the sale will actually happen. If the buyout occurs at the midpoint of the range, the company would have an equity value of $8.5 billion.