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Cerberus finds difficulty selling Freedom Group

Author: Bloomberg, Published on: 23 January 2013

Cerberus Capital Management LP has struggled to find investment banks to help sell Freedom Group Inc., the gun company whose rifle was used in the shooting spree in Newtown, Conn., said people with knowledge of the matter. Banks including JPMorgan Chase & Co., Credit Suisse Group AG and Barclays Plc declined to advise New York-based private-equity firm...At least one bank willing to work with Cerberus on the sale of Freedom Group is Lazard, said several people familiar with the matter. Lazard doesn’t have a mandate or contract to sell the business yet, one of the people said.

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Related companies: Barclays Cerberus Capital Management Credit Suisse JPMorgan Chase