beretta
Americannoun
Example Sentences
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Sturm Ruger RGR 0.97%increase; green up pointing triangle said Beretta is seeking to gain control of the company through discounted share purchases and outsize governance rights.
The statement comes after Beretta acquired a nearly 10% stake in Ruger and last month nominated four directors to the company’s board, setting the stage for a potential proxy fight between the rival gun makers.
Beretta first disclosed its stake in September, stating at that time that it had no “present intention” to take control of Ruger, according to Ruger.
In the days and weeks that followed, Ruger representatives reached out to Beretta, repeatedly offered to meet, and asked that Beretta pause its share accumulation pending discussions, the company said.
Beretta initially declined to meet, before eventually agreeing to a sit-down in December, Ruger said.
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