A Surprising Bid for Remington, and an Unsurprising Rejection [The New York Times]
JP Morgan Chase & Co. (JPM)
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Source: The New York Times
Image The Navajo Nation made a bid for the gun maker Remington, which has recently emerged from bankruptcy. Although the offer was rejected, it offered an interesting plan to remake one of the country’s oldest and largest firearms companies. Credit Lucas Jackson/Reuters By Andrew Ross Sorkin July 16, 2018 This spring, I wrote a column suggesting someone should try to buy Remington , one of the country’s oldest and largest firearms makers, and transform the company into a model for advanced and responsible gun manufacturing. A surprising investor made a bid to do just that. Perhaps not surprisingly, Remington’s management rejected the offer. The proposal came from the Navajo Nation, one of the largest Native American tribes in the country with more than 350,000 members and land holdings of more than 27,000 square miles in Arizona, New Mexico and Utah. The Navajo Nation — which controls a $3.3 billion investment trust — sent a letter to Remington in May o
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