Berfetta, an Italian corporation, has agreed to boost its investment in Sturm, Ruger & corporation, a United States-based guns company, to 25%. The arrangement is intended to allow Ruger to profit from Beretta's knowledge and position, while also allowing Beretta to expand and cement its position in the United States market. According to MF, the partial tender offer will have a minimum price of $44.80 per share. The agreement states that Beretta will keep its interest for a minimum of three years. Furthermore, the business will have the option of appointing up to two independent directors following the shareholders' meeting, which will temporarily extend Ruger's board of directors. "We are glad to have struck an arrangement with Ruger. This collaboration is completely consistent with the group's strategy to strengthen our presence in the United States, a key market in which we have been active for several decades, and reflects our commitment to long-term development", said Pietro Gussalli Beretta, president and CEO of Beretta Holding. The Italian group currently produces around 39% of its revenue in the United States through nine companies.