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  • BY: Andrew Hore |
  • POSTED: 26/11/2013 |

Shares in heavy machine guns manufacturer Manroy jumped by more than one-third after it revealed that it had been approached by three arms manufacturers.

The potential bidders are Beretta, Herstal and US Ordnance. Beretta is a holding company supplying light firearms, opto-electronics and defence equipment (

Herstal is the other European guns manufacturer interested in bidding ( Herstal also has manufacturing plants in the US and Japan and brands include Winchester and Browning.

Nevada-based US Ordnance Inc supplies machine guns and small arms (

Manroy has businesses in the UK and US.

Manroy floated at 75p a share three years ago and the share price has moved back to 75.5p a share, which values Manroy at 14.4m. The lumpy nature of the business has hit the share price performance. A European government customer orders a further 2.1m (1.8m) of heavy machine gun spares, which follows on from a 1.7m (1.4m) order in September.

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