Cerberus to sell AR-15 gunmaker Freedom Group

[exotix]

Just in

Freedom Group is the gunmaker of the Bushmaster ... the AR-15 that Lanza used to execute teachers & children ... this is what's known as divestiture .... typically associated with companys exiting rogue nations ...


Cerberus to Sell Gunmaker Freedom Group

http://dealbook.nytimes.com/2012/12/...freedom-group/ (http://dealbook.nytimes.com/2012/12/18/cerberus-to-sell-gunmaker-freedom-group/)

http://www.prnewswire.com/news-relea...183889361.html (http://www.prnewswire.com/news-releases/cerberus-capital-management-statement-regarding-freedom-group-inc-183889361.html)

http://www.msnbc.msn.com/id/50234921...s-us_business/ (http://www.msnbc.msn.com/id/50234921/ns/business-us_business/)


The private equity firm Cerberus Capital Management said on Tuesday that it would sell its investment in the gunmaker Freedom Group in response to the school shootings last week in Connecticut.

Cerberus acquired Bushmaster in 2006 ~ the manufacturer of the rifle used by the gunman in the Newtown attacks that killed 27 people, including 20 schoolchildren.

The private equity giant later merged it with other gun companies to create Freedom Group, which reported net sales of $677.3 million for the nine months that ended in September 2012, a 20 percent increase compared with the same period last year.


“It is apparent that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level,” Cerberus said in a news release.


The private equity firm said it had made the investments in gun manufacturers on behalf of its clients, which include pension funds and other institutional investors.


Cerberus added that it was the role of legislators to shape the country’s gun policy.


“We believe that this decision allows us to meet our obligations to the investors whose interests we are entrusted to protect without being drawn into the national debate that is more properly pursued by those with the formal charter and public responsibility to do so,” Cerberus said.


(Read continues in Link)




This Bushmaster AR-15 semi-automatic rifle and ammunition, shown Monday, March 27, 2006, at Seattle Police headquarters in Seattle.
Private equity giant is selling its investment in the maker of the weapon in the wake of the Newtown shootings.

http://i46.tinypic.com/15n7vjn.jpg

[Cigar]

Looks to me like The Obama Administration as been excellent for Businesses :)

[hanger4]

Of course they're unloading it. And it has nothing to do with the tragedy. The negative press coupled with the increased risk that the product will be targeted by legislation makes it, to them, an obvious sell. They clearly do not want to endure the risk or the loss of value that comes with this legislation. Its the same reason for investors that the US dollar is an obvious sell, or that gold is an obvious buy.

[Cigar]

Of course they're unloading it. And it has nothing to do with the tragedy. The negative press coupled with the increased risk that the product will be targeted by legislation makes it, to them, an obvious sell. They clearly do not want to endure the risk or the loss of value that comes with this legislation. Its the same reason for investors that the US dollar is an obvious sell, or that gold is an obvious buy.



http://images.fastcompany.com/upload/glenn-beck-gold.jpg
http://monkeearmada.files.wordpress.com/2010/10/glenn-beck-idiot.jpg?w=640

[hanger4]

http://monkeearmada.files.wordpress.com/2010/10/glenn-beck-idiot.jpg?w=640

Problem with you Cigar is you post no facts to disregard.

And what relevance is this post to my post ??

OH, wait, I know, it's just another meaningless one liner that makes you clap your wittle hands together in front of your puter screen and say "Wow, I guess I told him".

[Peter1469]

It would be neat to track the company's stock value. I imagine it will be going up in the long term.