Beretta escalates bid to raise Ruger stake to 30%
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.