Freedom Group Buying Out Investors?
Looks like Remington has secured $175M in debt, of which $150M will be used to buy existing shares. And the rest will go to capital. I wonder if the $150M buyout is going to the California pension fund that told Cerberus Capital it wasn’t a fan of them owning all those gun companies? And more buyouts are coming.
December 18th, 2013 at 2:41 pm
Implicitly, this means that the current management thinks they can earn more money for the remaining shareholders than the cost of the buyout. That’s *interesting*
December 18th, 2013 at 7:01 pm
Clawing back shares is USUALLY a good sign.