RUGER: An American Icon Remains Standing! -#2A
Ruger & Beretta Reach Cooperation Agreement, Ruger Stays Independent
Ruger & Beretta Reach Cooperation Agreement, Ruger Stays Independent
(Nothing against Berretta. They’re just not my cup of tea. [or my price point] After seeing what foreign owners did to other great arms makers, this Take-Over biz had me worried. I’m a Sturm Ruger fan. From the 10-22 to the SR-1911, I’ve enjoyed a lot of them including my faithful P-90 brick-in-a-holster that has thousands of rounds and miles on it. - DD)
(Duncan Johnson, AmmoLand) - Beretta Holding may increase its investment in Ruger up to 25%, but Ruger says it will remain an independent U.S. public company.
Sturm, Ruger & Company and Beretta Holding have reached a cooperation agreement that appears to cool down what had been shaping up as a public fight over Ruger’s future.
The agreement allows Beretta Holding, Ruger’s largest shareholder, to increase its investment in Ruger up to 25% of the company’s outstanding shares. The minimum partial tender offer price would be $44.80 per share in cash, according to Ruger, representing roughly a 20% premium to Ruger’s 60-day volume-weighted average share price before Beretta Holding’s tender offer announcement.
The key point for gun owners and Ruger customers: this is not being presented as a sale of Ruger, a merger, or Beretta taking over the company. Ruger says it will remain an independent U.S. public company, preserving its brand, heritage, and strategic direction.
Ruger is one of the best-known American firearm manufacturers, with major product lines under the Ruger, Marlin, and Glenfield brands. Any suggestion that Ruger was being “sold” to Beretta would be a major…
I am a big Beretta guy, handguns and shotguns, but I definitely don't want a foreign arms company owning an American one. Keep Beretta in Italy making great guns and Ruger in America doing the same.