Sportsman's Guide sold to a French Company

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Thread: Sportsman's Guide sold to a French Company

  1. #1
    JT [OP]
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    Sportsman's Guide sold to a French Company

    Blessed be the Lord my rock who trains my hands for war and my fingers for battle. Psalm 144:1

    Si vis pacem, para bellum

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  3. #2
    JT [OP]
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    More news on the sale...

    http://www.startribune.com/535/story/436906.html

    Sportsman's Guide sued over proposed sale
    Last update: May 16, 2006 – 8:31 PM

    A class-action suit has been filed against Internet and catalog marketer Sportsman's Guide and its top executives and directors, alleging that the defendants breached their duty to shareholders in negotiating terms of a proposed sale of the South St. Paul company to French retailer Pinault-Printemps-Redoute for $265 million.

    The complaint, filed last week in Dakota County District Court, alleged that company officials "unjustly enriched themselves" at the expense of shareholders. Executives will receive "change of control" payments, accelerated stock options, retention bonuses and new employment contracts from the acquiring company, the complaint said. But a May 8 company filing with the Securities and Exchange Commission (SEC) says executives have agreed to waive their right to enhanced severance protection and benefits.

    The suit also claims that shareholders will be shortchanged because the "sale price was based on stale results," said plaintiffs' attorney Randall Steinmeyer of San Diego. The acquisition was announced before Sportsman's favorable first-quarter results were disclosed, he said, and company officials did not disclose projections for the following quarters. The sale is expected to close in the third quarter.

    Bill Bartkowski, a spokesman representing Sportsman's Guide, said the company believes the suit's allegations are without merit. "Some of the allegations bespeak a certain naivete" about customary sale terms, Bartkowski said. The company will address many of the suit's issues in its proxy statement to shareholders, expected to be filed with the SEC in the next 15 days, he said.
    Blessed be the Lord my rock who trains my hands for war and my fingers for battle. Psalm 144:1

    Si vis pacem, para bellum

  4. #3
    Senior Member Array Wayne's Avatar
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    Well, I guess they won't be selling nigh vision, scopes, ammo or any gear associated with firearms.

    But, on the bright side maybe they will import french C&R rifles "Never used, dropped once".

    Wayne

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    JT [OP]
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    There goes my favorite source for bulk ammo.
    Blessed be the Lord my rock who trains my hands for war and my fingers for battle. Psalm 144:1

    Si vis pacem, para bellum

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    Distinguished Member Array 4my son's Avatar
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    What is Gary doing?

    Probably no more ammo, he already dropped the stories in the catalog.



    Selling to the French.
    "fundamental principle of American law that a government and its agents are under no general duty to provide public services, such as police protection, to any individual citizen." [Warren v. District of Columbia,(D.C. Ct. of Ap., 1981)]
    If I have to explain it, you wouldn't understand

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    Senior Member Array Weeg's Avatar
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    "Going to War without the French is like going Deer Hunting without your Accordion"

    GEN (Ret) H. Norman Schwartzkopf



    .
    Last edited by Weeg; May 18th, 2006 at 05:35 AM.

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    Pity - can't see any good coming out of that at all.

    Oh well - plenty of other fish in the sea.
    Chris - P95
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    VIP Member Array Bud White's Avatar
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    well after a couple bum dealings with them i was thinking of ordering some stuff guess not

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    Too bad , they had some good deals on some stuff. the guide gear equipment was always good and sturdy.
    "In matters of style, swim with the current; in matters of principle, stand like a rock." Thomas Jefferson


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    Just in case I just ordered another 1,000 rounds of 7.2 russian. That should keep me happy for a while and till I find another cheap source.
    You have to make the shot when fire is smoking, people are screaming, dogs are barking, kids are crying and sirens are coming.
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    VIP Member Array Sheldon J's Avatar
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    Now wait this may be a good thing, since the French army is almost totaly without use, they may use this as a resource to dump their usless (to them) equipment on the market, I wonder how much they will sell their tanks for?
    "The sword dose not cause the murder, and the maker of the sword dose not bear sin" Rabbi Solomon ben Isaac 11th century

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    Sacre bleu.
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    ******, i'll never get my backordered ammo now.

  15. #14
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    That stinks. I bought a membership with them thinking I would order a lot of ammo.
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