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United States

6 April 2007

Associated Press

ILION, New York — The $370 million acquisition of historic Remington Arms by a New York City-based private-equity firm has left this upstate community feeling somewhat unsettled — but also hopeful for a better future. The 191-year-old gun maker was purchased Thursday by Cerberus Capital Management. Cerberus is buying Remington for about $118 million and taking on its $252 million in debt. While Cerberus officials said they saw "tremendous value" in Remington, they... (

Read More: Associated Press