The tender offer targets up to 2.4 million outstanding shares. This development follows a Federal Trade Commission agreement designed to mitigate antitrust concerns regarding the proposed acquisition. Under the terms of the consent order, Beretta is strictly prohibited from placing its own representatives on the Sturm Ruger board, mandating that any appointments remain independent of the Italian firm. Before this announcement, Sturm Ruger had already seen a 14% increase in its stock value for the year.
Beretta Tender Offer Sends Sturm Ruger Shares Higher
Sturm Ruger stock climbed 7.6% in premarket trading Thursday after Beretta Holding initiated a cash tender offer at $44.80 per share. The move follows a significant year-to-date rally for the firearm manufacturer, with the Italian company now aggressively pursuing a 25% stake in its American counterpart.
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