Gunmaker Sturm Ruger & Co Inc said it was looking at the accounts of up-for-sale rival Freedom Group, but said it was unlikely it would make a bid. Sturm Ruger's Chief Executive Officer Michael Fifer said Freedom could be an acquisition opportunity but he expects a deal to be grossly overpriced."I'll admit it we got the book and we'll look at the book, but I don't actually expect it to go a lot further than that," Fifer said at the company's annual meeting of stockholders on Tuesday.
Sturm, Ruger & Company, Inc. is engaged in the design, manufacture, and sale of firearms to domestic customers. Shares of RGR traded higher by 0.84% or $0.43/share to $51.40. In the past year, the shares have traded as low as $34.22 and as high as $60.11. On average, 473251 shares of RGR exchange hands on a given day and today's volume is recorded at 1069188.
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