Reuters - Sturm Ruger Looks at Freedom Group

Gunmaker Sturm Ruger & Co. said it was looking at the accounts of up-for-sale rival Freedom Group but said it was unlikely it would make a bid, Reuters reported. Sturm Ruger Chief Executive Michael Fifer said Freedom could be an acquisition opportunity and his company was looking at their books but he expects a deal to be grossly overpriced. Freedom Group, owned by private equity firm Cerberus Capital Management LP, had sales of $931.9 million in 2012. Cerberus has come under pressure from the public as well as investors in its funds to sell Freedom Group after an AR-15 type Bushmaster rifle manufactured by the company was used in last year's Newtown school massacre.

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