Market Chatter: Beretta Ready to Launch Bid to Boost Ruger Stake to 25% 'In the Coming Hours'

MT Newswires Live

09/17

Beretta is set to launch a bid to raise its stake in Sturm, Ruger & Co. (RGR) to 25% "in the coming hours," Italian media outlet Teleborsa reported Thursday.

The move follows Ruger's announcement on Wednesday that regulatory conditions tied to its previously disclosed cooperation agreement with Beretta have now been satisfied.

In May, the two companies signed a cooperation agreement allowing Beretta to lift its stake to as much as 25% from its roughly 10% holding in Ruger's outstanding shares.

Beretta and Ruger did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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