Smith & Wesson Completes Savage Arms Deal at $164.9 Million Adjusted Value

Smith & Wesson Brands completed its acquisition of Savage Arms on Oct. 21, issuing 8,993,968 common shares and paying $42.4 million in cash. The acquisition adds Savage’s hunting, competition and target-shooting rifles and shotguns to Smith & Wesson’s handgun business and growing long-gun lineup. The adjusted transaction value is approximately $164.9 million, combining a $160 million base amount with preliminary closing calculations for Savage’s cash and debt, deal expenses, minimum cash needs and net working capital. A post-closing cash adjustment remains pending.

Source: TokenPost