Capital acquisition
Gun manufacturers for responsible citizensAnd Ruger, the American company that made this commercial slogan its own, has taken on a lot of responsibility, having been the protagonist of a sensational exchange with Beretta HoldingThe latter is the Southport-based company's main shareholder and recently stepped forward with a 10% stake and the appointment of several board members. This approach was not welcomed by Ruger itself, as can be seen from statements reported in the last few hours by the Wall Street Journal.
The accusations
According to Ruger, the Gardone Val Trompia-based company intends to achieve its takeover by purchasing shares at discounted prices and with disproportionate governance rights. Beretta's response was inevitable; to be precise, it published a very detailed statement: "We are disappointed that Ruger has chosen to seriously breach its contractual obligations under the Confidentiality Agreement with us and to share confidential discussions in a devious and distorted attempt to discredit Beretta Holding.".
A small glimmer of hope?
According to Beretta, there would be no intention of control but only a "strategic minority investment at market conditions for the benefit of all shareholders“. The note is even more explicit in this passage: “Ruger's attempts to suggest potential regulatory and national security problems are blatant scare tactics aimed at deflecting attention from the board's oversight failures.“. However, there is no lack of will to conclude the affair without excessive repercussions: “The commitment remains to reach a constructive solution that will help reverse the persistent underperformance, underlined by the company's disappointing annual results.".
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