Freedom Group has withdrawn its initial public offering (IPO) plans, Bloomberg reports. The U.S. firearms and ammunition manufacturer, which filed for the IPO in October 2009, was seeking to raise around $200 million from the offering. The North Carolina-based company had appointed Merrill Lynch, Pierce, Fenner & Smith and Deutsche Bank Securities as underwriters of the IPO. According to the filing with Securities and Exchange Commission, Freedom is likely to hold a private offering.
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