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Private Equity Firm To Sell Gun Interest

DAVID GREENE, HOST:

NPR's business news starts with pressure to sell.

(SOUNDBITE OF MUSIC)

GREENE: Here's an example of the business world feeling the impact of the school tragedy in Connecticut. Cerberus Capital is a private equity firm and they own a company called Freedom Group. Freedom Group was merged with the company that made one of the guns used in last week's shootings at Sandy Hook Elementary. Today Cerberus Capital said in a statement that it is looking to sell its stake in the gun manufacturer. This follows pressure yesterday from the California State Teachers Retirement System among others. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

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