Business news : Cerberus Owner Exploring Freedom Group Bid

Cerberus Capital Management LP’s founder Stephen Feinberg and his partners may try to acquire Freedom Group Inc. from the private-equity funds managed by his firm, sources told Bloomberg News.

The Freedom Group was put up for sale by its parent company Cerberus Capital Management Dec. 18, a little more than a week after an assailant used a Bushmaster rifle in an attack on a Connecticut school that resulted in the death of 20 school children and seven adults. Lazard Ltd. has been hired to manage the sale.

Feinberg's offer would be expected to form a "stalking horse" bid to provide a base for other offers.

Cerberus acquired Bushmaster Firearms Inc. in 2006 and later merged it with a second gun maker, Remington Arms Co. Inc., to create Freedom Group.

Source SportsOneSource