Beretta Holding, the owner of historic Italian gunmaker Beretta, has launched an offer to more than double its stake in U.S. sporting firearm manufacturer Sturm, Ruger & Co. (RGR.N), opens new tab as part of a strategic partnership the two firms agreed in May.
Beretta Holding is offering $44.80 per share, a premium of around 21% versus Wednesday's closing price, to secure up to 25% of Sturm Ruger from a current stake of 9.93%. The additional investment will cost around $108 million, it said. The offer runs until October 15 and is not subject to reaching a minimum threshold or to any financing condition.
