Beretta Slams Ruger's 'Scare Tactics' in Proxy Fight, Citing Board's 'Oversight Failures'
RGR sits 37% above its 52-week low of $28.33 on light trading volume (0.2× avg).
Summary
Activist investor Beretta Holding S.A. has publicly dismissed Sturm, Ruger & Co.'s claims of potential regulatory and national security issues as "transparent scare tactics." This statement directly counters Ruger's recent accusations that Beretta is attempting a hostile takeover. Beretta further alleges that Ruger's actions are designed to divert attention from the current board's "oversight failures." This marks a significant escalation in the ongoing proxy contest, highlighting the contentious nature of the battle for control and strategic direction of the company. Traders will be watching for further responses from Ruger and the outcome of the upcoming shareholder vote.
At the time of this announcement, RGR was trading at $38.89 on NYSE in the Manufacturing sector, with a market capitalization of approximately $620.1M. The 52-week trading range was $28.33 to $48.21. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.