H&K; Here we go again?

With any luck maybe the newly emasculated H&K can come up with something to rival the brilliantly designed and executed Colt All American 2000. ;)

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So many pistols, so little money.
 
This deal was announced 28 December 99. There is a letter of intent between Colt and British Aerospace. Colt has offered to purchase H&K for approximately US$100 million.

The letter of intent just keeps British Aerospace from selling to any other buyers for a specific period of time. This allows Colt time to raise the capital for the purchase.

Many have speculated that Colt (which is up for sale) signed the letter in an attempt to bolster it's own stock. Just prior to the letter of intent being announced, Colt laid off or fired about two-thirds of it's employees.

To quote Rich Esposito, the now ex-PR chief for Colt "Colt has been running on empty for months now. They just don't have any money."

Colt has gone bankrupt three times already and I don't see them raising $100 million to buy H&K.

John Hollister

For those that care, Steve Sliwa was canned too according to the March/April 2000 issue of "American Handgunner"
 
All this statement is saying, assuming that this reporter has an inside scoop, the letter of intent may expire at the end of this month. That is why the date for completion was give. Other than that, its old news.

Robert
 
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