Smith & Wesson to split from corporate parent American Outdoor Brands Corp. [MarketWatch]
AMERICAN OUTDOOR BRANDS CORP (AOBC)
Last american outdoor brands corp earnings: 3/5 04:15 pm
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Source: MarketWatch
Smith & Wesson to split from corporate parent American Outdoor Brands Corp. American Outdoor Brands Corp. AOBC, +2.87% announced Wednesday afternoon that it would split into two companies to separate its gun-manufacturing business and the rest of its products. AOBC plans to spin off its outdoor-products and -accessories business in a tax-free dividend to stockholders, and allow that business to retain the American Outdoor Brands Inc. name. The gun business will be renamed Smith & Wesson Brands Inc., the name associated with its firearms. "There have been significant changes in the political climate as well as the economic, investing, and insurance markets since we embarked upon what we believe have been our very successful diversification efforts," Chairman Barry Monheit said in the announcement. "We believe that separating into two independent public companies will allow each company to better align its strategic objectives with its capital allocation priorities." Chief Executive
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