Cerberus’s Feinberg Said to Weigh Bid for Freedom Group
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Cerberus Capital Management LP’s founder Stephen Feinberg and his partners may try to acquire gunmaker Freedom Group Inc. from the private-equity funds managed by his firm, according to two people familiar with the matter.
Cerberus put Freedom Group, the maker of the rifle used in a Connecticut school shooting last year, up for sale in December after coming under pressure from public pension fund investors. Feinberg and other partners at New York-based Cerberus have approached wealthy individuals about joining in a “stalking horse” bid to spark competition for Freedom Group and ensure it fetches a fair price, said the people, who asked not to be identified because the plans are private.