American gunmaker to buy Smith & Wesson

N

NationalCCW

New member
The business channel has reported Smith & Wesson may soon be back in American hands. The end may be near, as the only anti-gun gunmaker may soon fall into gun friendly hands. The list of bidders is a who's who of the American gun industry. For news go to the "black box" icon at:
National CCW Reciprocity Foundation
http://www.NationalCCW.com
 
Youre site is whacked this morning. Keep getting a lovely Homestead ad. So who is it? Smith & Ruger? Colt & Wesson? kimber & Wesson?
 
It'd be cool if Remington or Springfield would do it. Ruger seems a bit too selective as to what aspects of RKBA it wants to support.
 
Hmmm . . . wonder what NationalCCW put on his site. My employer's proxy server won't allow access to it anymore because "Category SEX is blocked."
 
Hank,

the only thing I saw that might remotely cause the problem is a reference to CORE, the Congress of Racial Equality. Perhaps that one word is enough?

Unless, of course, your employer is treating firearms sites the same as pornography sites (ala AOL).
 
Hmm... so much trouble viewing site???

American Gunmaker To Buy Smith & Wesson CNBC has reported that Tomkins PLC if fielding offers from four American gunmakers to buyout Smith & Wesson. The names that are being floated for being part of the negotiations are Remington, Ruger, Springfield Armory, & Colt.
Click to expand...

There is more on the site...

BOY, it'd be great if SA took over! :D
 
Don't be too sure about Ruger. Bill Ruger doesn't want to sell "non-sporting" weapons, right? Maybe the non-sporting stuff will carry S&W logos. (felt good to type that.)

If anyone is going to do it, it'll probably be Ruger. Who else can afford it?
 
Ah ... this makes sense

This is step one of the logical solution to the mess Clinton and S&W management have created.

Step 1 - sell the firm, and perhaps more importantly, sell the firm's assets ... including the name, designs / patents, tooling, etc. An asset purchase might be affected by tax considerations. The big question for our attorney members - could an asset sale leave the onerous HUD and Boston agreements remaining in a shell corporation that no longer contains S&W's core business? If so, voila ... problem solved.

Step 2 - depending upon Step 1 above, the Bush administration could void the HUD agreement. However, this would not remove the cancer of the Boston agreement.


It may now be hoped that the venerable name of Smith & Wesson may be reborn in 2001. However ... until these events come to pass, we must keep the pressure on, and drive the current fools into bankruptcy, if necessary.

Thanks for this piece of potential good news ...

Regards from AZ
 
Jeff,

Not an attorney, but I have some deal experience.

The short answer to your question is, yes. Under most circumstances, however, it would require the cooperation of all parties, which may not be forthcoming.

I have not looked at either of the agreements for assignability clauses, but I suspect in the event of an asset sale where substantially all of the assets are sold to a single entity, the agreements would tag along. If the assets were sold to multiple acquirers (such as in a bankruptcy proceeding) the HUD and Boston agreements could be left behind more easily.

An answer for this specific transaction would involve some serious reading into the terms of the agreements, and some inside information on the structure of the sale.

Always happy to provide an ambiguous answer. (Kind of like a real attorney, eh?)

Marty
 
http://biz.yahoo.com/rf/010116/b190915.html

Wouldn't it be delicious irony if S&W were bought by (Dan) Wesson Arms? It can't be Winchester or Browning since they are owned by Fabrique Nationale. If it had been Winchester, it would have been a reunion of the partners in Volcanic Arms. ;)

Colt can't possibly have the cash. Ruger ownership strikes me as a nightmarish possibility. Who else could it be: Remington, Springfield Inc, Marlin, Mossberg, Kimber, or Kahr?
 
I was hoping someone would mention that Bill Ruger was a “coat-closet-anti”. Remember he was very vocal during the Brady Bill Discussions and firmly supported the clip bans.

Personally I hope all of these Anti-gun gun companies go belly up and float to the surface!

Fast Eagle

“Kennedy Firing Room, Intern One (read Air Force One) Launch Control T-19 hours 44 minute and were in a smooth count for final departure”.:D
 
let me post it here:
uesday January 16, 8:34 pm Eastern Time

Tomkins in talks to sell Smith & Wesson - FT

LONDON, Jan 17 (Reuters) - British Industrial group Tomkins Plc (quote from Yahoo! UK & Ireland: TOMK.L) is in
talks to sell its Smith and Wesson handgun maker at a loss, the Financial Times said on Wednesday.

Quoting company chairman David Newlands, the paper said that Tomkins confirmed it was in talks with two
American gun companies.

Newlands was quoted as saying that he thought Smith and Wesson would sell for a lower price than the original 76 million pounds ($112
million) originally paid for it.

``We're not going to get a fantastic price for it,'' Newlands is quoted as saying.

Following a strategic review, Tomkins has said it would not break up the company into its automotive and construction divisions but would
carry out a 415 million pound share buy-back, the paper said.

The company said it was in talks with the Gates family, one of the largest shareholders, regarding its preference shares which could be
converted into a 20 percent stake, according to the newspaper.

The company posted a sharp drop in profits on Tuesday with first-half profits down to 89 million pounds ($130 million) from 210 million
pounds a year earlier.
 
Thanks for the refresher on the contract DZ. I thought that
I had remembered that there was no assignment clause.

IIRC, this means that new owners aren't affected by the
contract.
 
Don't forget Bill Ruger has retired. His son has just taken over the reigns or Ruger and Co..

It will be interesting what direction he takes his company in...

TC
 
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