Beretta escalates bid to raise Ruger stake to 30%
TL;DR Summary
Beretta Holding is pressing to lift its stake in Sturm Ruger from under 10% to 30% and has proposed an all-cash tender at $44.80 a share after launching a proxy fight to install four new Ruger directors, while Ruger calls the campaign a creeping takeover and vows to defend shareholders’ interests; Beretta says it is not seeking control and remains open to negotiations.
Topics:business#beretta-holding#business#corporate-governance#investor-activism#mergers-and-acquisitions#sturm-ruger
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