{"id":2173,"date":"2013-07-05T12:35:00","date_gmt":"2013-07-05T12:35:00","guid":{"rendered":"https:\/\/onlygunsandmoney.com\/2013\/07\/05\/cerberus-ceo-feinberg-drops-stalking\/"},"modified":"2019-08-16T18:22:24","modified_gmt":"2019-08-16T18:22:24","slug":"cerberus-ceo-feinberg-drops-stalking","status":"publish","type":"post","link":"https:\/\/onlygunsandmoney.com\/?p=2173","title":{"rendered":"Cerberus CEO Feinberg Drops &#8220;Stalking Horse&#8221; Bid"},"content":{"rendered":"<div class='__iawmlf-post-loop-links' style='display:none;' data-iawmlf-post-links='[{&quot;id&quot;:13204,&quot;href&quot;:&quot;http:\\\/\\\/onlygunsandmoney.blogspot.com\\\/2013\\\/04\\\/more-on-sale-of-freedom-group.html&quot;,&quot;archived_href&quot;:&quot;https:\\\/\\\/web-wp.archive.org\\\/web\\\/20260125090835\\\/https:\\\/\\\/onlygunsandmoney.blogspot.com\\\/2013\\\/04\\\/more-on-sale-of-freedom-group.html&quot;,&quot;redirect_href&quot;:&quot;&quot;,&quot;checks&quot;:[{&quot;date&quot;:&quot;2026-04-19 17:16:46&quot;,&quot;http_code&quot;:200}],&quot;broken&quot;:false,&quot;last_checked&quot;:{&quot;date&quot;:&quot;2026-04-19 17:16:46&quot;,&quot;http_code&quot;:200},&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:13205,&quot;href&quot;:&quot;http:\\\/\\\/www.reuters.com\\\/article\\\/2013\\\/07\\\/03\\\/freedomgroup-cerberus-idUSL2N0F91WR20130703&quot;,&quot;archived_href&quot;:&quot;&quot;,&quot;redirect_href&quot;:&quot;https:\\\/\\\/www.reuters.com\\\/article\\\/2013\\\/07\\\/03\\\/freedomgroup-cerberus-idUSL2N0F91WR20130703&quot;,&quot;checks&quot;:[],&quot;broken&quot;:false,&quot;last_checked&quot;:null,&quot;process&quot;:&quot;done&quot;},{&quot;id&quot;:13206,&quot;href&quot;:&quot;http:\\\/\\\/online.wsj.com\\\/article\\\/SB10001424127887324853704578583972028422436.html?KEYWORDS=cerberus&quot;,&quot;archived_href&quot;:&quot;&quot;,&quot;redirect_href&quot;:&quot;https:\\\/\\\/online.wsj.com\\\/article\\\/SB10001424127887324853704578583972028422436.html?KEYWORDS=cerberus&quot;,&quot;checks&quot;:[],&quot;broken&quot;:false,&quot;last_checked&quot;:null,&quot;process&quot;:&quot;done&quot;}]'><\/div>\n<p>\n<a href=\"http:\/\/onlygunsandmoney.blogspot.com\/2013\/04\/more-on-sale-of-freedom-group.html\" target=\"_blank\" rel=\"noopener\">As was reported back in late April<\/a>, Cerberus CEO Stephen Feinberg and others partners were putting together a bid for the Freedom Group. He explained at the time that while they were selling the group of companies he didn&#8217;t want it to go at fire sale prices.<\/p>\n<p>Both Reuters and the Wall Street Journal report that Feinberg and his group have dropped their bid for the Freedom Group.<\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/2013\/07\/03\/freedomgroup-cerberus-idUSL2N0F91WR20130703\" target=\"_blank\" rel=\"noopener\">From Reuters:<\/a><\/p>\n<blockquote class=\"tr_bq\"><p>\n<i>Feinberg no longer sees the need to make an offer for the gun company, the person said, because Freedom Group is in dialogue with a number of industry players, as well as financial investors, and he views the sale process as robust.<\/p>\n<p>No deal has been agreed to and talks with the potential buyers are ongoing, the person added.<\/i><\/p><\/blockquote>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB10001424127887324853704578583972028422436.html?KEYWORDS=cerberus\" target=\"_blank\" rel=\"noopener\">The Wall Street Journal goes into more detail<\/a>. One source said that Cerberus initially wanted about $1 billion for the Freedom Group but now wants more for it. They have received a number of bids in what is considered to be the first round of bidding. <\/p>\n<blockquote class=\"tr_bq\"><p>\n<i>People familiar with the process say several companies submitted bids last month when a first-round of offers was due.<\/p>\n<p>It is possible Cerberus will opt not to sell, one of the people said.<\/p>\n<p>Freedom Group&#8217;s results have improved amid rising gun and ammunition sales since the tragedy and as restructuring moves implemented by Cerberus take effect, these people said. Cerberus initially planned to seek around $1 billion for the company, but now wants more, one of the people said.<\/p>\n<p>Some of the bids came in over $1 billion while others were lower, one of the people said. It is common in a bidding process for the field of suitors to thin out after the initial round of bidding, so the level of interest in the company remains unclear.<\/i><\/p><\/blockquote>\n<p>I&#8217;d love to know who the bidders are as would we all. You have to wonder if the high bidder will be a investment group like Cerberus, a diversified company like DuPont which used to own Remington years ago, or a firearms manufacturer like Ruger or FNH-USA. Whatever happens will be interesting. <\/p>\n<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div>","protected":false},"excerpt":{"rendered":"<p>As was reported back in late April, Cerberus CEO Stephen Feinberg and others partners were putting together a bid&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[2789,2984],"class_list":["post-2173","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-cerberus-capital-management","tag-freedom-group"],"_links":{"self":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/2173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2173"}],"version-history":[{"count":1,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/2173\/revisions"}],"predecessor-version":[{"id":9284,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=\/wp\/v2\/posts\/2173\/revisions\/9284"}],"wp:attachment":[{"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onlygunsandmoney.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}