Beretta's Final Ruger Tender Count Leaves It Owning About 25%

Beretta Holding bought 2,400,184 Sturm, Ruger shares at $44.80 each after holders tendered 6,094,325, a final proration factor of about 39%, according to the final-results release Beretta Holding filed with the SEC on Oct. 20. Beretta Holding says the purchase leaves it with about 25% of Ruger, and a Form 3 it filed the same afternoon reports it as a 10% owner holding 3,987,184 shares directly. The ownership figure rests on Ruger's share count as of Sept. 17, the depositary is returning the tendered shares Beretta did not buy, and Ruger had issued no statement on the result as of this morning. Ruger reports third-quarter results Nov. 4 after the close, with a call the next morning.