Sturm, Ruger & Company (RGR) shares were up 8.5% pre-bell after Beretta Holding said Thursday that it launched a cash tender offer to buy up to 2,400,184 shares of Ruger common stock at $44.80 each.
Beretta said the price represents an approximately 21% premium over Ruger's Wednesday closing price, and that the deal will expire Oct. 15, unless it is extended.
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