Alabama Leaders Say Remington Outdoor is Not Negotiating to Sell Company for $1B
PALM BEACH, Fl. – Global Digital Solutions, Inc. filed a Form 8-K with the U.S. Securities and Exchange Commission on Tuesday offering to acquire Remington Outdoor Co. for about $1.08 billion.
A report in The Outdoor Wire said Remington leaders have described the unsolicited proposal as “attention seeking in its worst form” and are planning a response soon.
Local leaders insist Remington’s plans to move to Huntsville have not changed.
“This morning I did speak with members of Remington’s executive team and they did want to make us aware they had received an unsolicited offer to purchase Remington Firearms,” said Madison County Commissioner Dale Strong.
“It will not affect what’s going on here in Madison County – these past eight months of negotiation to recruit Remington to north Alabama is moving forward and again this unsolicited offer is a common occurrence in large corporations,” Strong assured.
The Form 8-K has three transactions, including the letter of intent to purchase Remington. Global Digital Solutions also proposed acquisitions with a technology and development services firm and military and law enforcement supply and distribution company.
Global Digital Solutions provides cyber arms manufacturing, security and technology solutions and social consulting. In a statement, Richard J. Sullivan, chairman and chief executive officer of the company, said his team “is extremely excited and confident about all three of these proposed acquisitions.”
“There are powerful synergies between Freedom and the two other companies that will fuel our future growth along with the transformation of the cyber arms industry,” Sullivan said in the statement to The Wall Street Journal’s Market Watch.