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Story summary
- Beretta, the Italian gun manufacturer, has launched a proxy fight to gain control of Sturm, Ruger & Co., Inc.
- Beretta has acquired a 10% stake in Ruger and plans to nominate four executives for Ruger’s board.
- Ruger has declining sales and a 40% drop in share price over four years, with a $581 million market cap.
- The annual general meeting to vote on the matter is scheduled for May 29.
