A US private equity firm has said it is to sell its stake in the maker of the AR15 rifle, the weapon used in the Newtown school shootings.
Cerberus Capital Management’s move came after pressure from one of its own biggest investors, the California State Teachers’ Retirement System (Calstrs).
Cerberus bought Bushmaster in 2006, and more gunmakers since, merging them into Freedom Group, which it will now sell.
Divestment can be a powerful tool for protest and social change. Let’s see if similar campaigns are as effective with other major firms.