Old_Me
Emissary
but, can't Beretta, buy more stocks, under other names..??? or entities.....???More...
This week, Ruger disclosed that the company has tried to engage with Beretta since the filing of its initial SEC report “to learn more about Beretta’s plans and intentions without success,” and that Beretta has advised Ruger’s Board that “it would not, under any circumstances, sign a standstill agreement.” Such an agreement stipulates that an investor agrees to buy no more shares for a specified period.
In response, Ruger’s Board on Tuesday adopted and filed a one-year shareholder rights plan, which is triggered if any investor obtains 10 percent or more of the company’s stock. The plan, a commonly seen “poison pill” used to halt takeovers, gives shareholders – except the one exceeding 10 percent ownership that triggered the plan – the right to buy more shares at a steep discount. This would make a potential takeover attempt through stock purchase a steeper hill to climb, although not an insurmountable one. For instance, Twitter’s board adopted an ultimately futile rights plan in an attempt to fight off Elon Musk’s purchase in 2022.
“In light of the potential for Beretta to significantly increase its position in Ruger, the Board determined that adopting the Rights Plan is prudent to fulfill its fiduciary duties to all stockholders,” said John Cosentino, Jr., Chairman of the Board for Sturm, Ruger & Company, Inc. “Ruger looks forward to meeting with Beretta, a leader in the industry, and learning more about what operational and strategic collaborations they have in mind. We are open to any ideas for lasting value creation. Our Board and management team remain committed to providing quality and innovative firearms and delivering long-term value to our stockholders.”
Beretta Just Bought 9 Percent of Ruger’s Stock, Prompting a Response
Ruger responded to public filings and statements that an international firearms powerhouse has moved to purchase a significant amount of its stock. On Sept. 22, Luxembourg-based Beretta Holding fil…laststandonzombieisland.com
if so, wouldn't that allow a "back door" take over..????
