after defaulting on nearly $30 million in loans. On May 29, 2002, Tasco Worldwide initiated liquidation of all its assets. Shareholders subject to American taxes generally did not have to recognize a gain or loss for federal tax purposes. This transaction was conducted on a tax-free basis. It began "regular way" trading on the New York Stock Exchange on Februunder the ticker symbol "VSTO." No payment or action of any kind was required of shareholders. Vista Outdoor stock traded on a "when-issued" basis from Januto February 9, 2015. Vista Outdoor was thus initially 100% owned by ATK shareholders. Eligible shareholders had their brokerage account credited or received a book-entry account statement reflecting their ownership. Anyone holding ATK common stock at the end of the business day on Februreceived two shares of Vista Outdoor common stock. ĪTK spun-off Vista Outdoor upon closing its merger with Orbital Sciences and became Orbital ATK on February 9, 2015. Under the terms of the transaction, ATK paid $985 million in cash, subject to customary post-closing adjustments. On September 5, 2013, Alliant Techsystems announced it had entered into a definitive agreement to acquire Bushnell. In July 2007, Wind Point Partners sold Bushnell Performance Optics along with Tasco property and sales rights to MidOcean Partners, a private equity firm based in New York and London. Meade Corporation began negotiations for a merger, but the Federal Trade Commission blocked the attempt.īy June 2002, Wind Point Partners, then the parent company of Bushnell Performance Optics purchased the Tasco brand and all the company's intellectual property. Įarly in 2001, Tasco began searching for a buyer as profits sank. Celestron was second only to Meade Instruments Corporation in sales of telescopes. In June 1998, Tasco purchased Celestron, another telescope manufacturer which focused on performance optical equipment and the more serious observer. At that time, Tasco employed 160 people at its Florida headquarters, and maintained a location in the state of Washington, which employed another 40. In March 1996, Rosenfield sold the business. Tasco was founded by George Rosenfield in 1954. Models have magnifications between 12 and 45 times, and feature panoramic view finding. These scopes are designed for rugged outdoor use and feature rubber armor protection as well as optional camouflage. They also import non-magnifying red dot sights. Tasco imports telescopic sights for rifles, and handguns featuring magnifications of 1 to 40 power. Tasco provides software for viewing and printing photographs taken on its devices. Users can transfer images to a computer via a USB cable. They also offer Snapshot series binoculars, which include an ability to record video and capture still pictures as seen through the binoculars. Tasco imports binoculars with magnifications ranging between seven and ten power. Tasco's telescopes tend to be referred to as "department store telescopes." They are generally considered low-cost instruments that appeal to impulse buyers. It is one of several companies advertising their products based on claims of high magnification, far beyond any attainable usable magnification. Tasco's telescopes have a reputation as entry-level equipment. Products Telescopes Department store 50 mm Tasco Specialty Refractor on modified mount (lower left) and a 114mm Sky-Watcher reflector. The name was later shortened to Tasco as its offerings expanded to include binoculars and eyepieces. It started as a distributor of fishing tackle and hardware. George Rosenfield founded the firm as the Tanross Supply Company in 1954. Tasco sells via retail stores, catalogs, and online retailers. Tasco mainly imports telescopes for amateur astronomers but has expanded into other optical products, such as spotting scopes, microscopes, binoculars, telescopic sights, and other rifle accessories. Tasco (also known as Tasco Worldwide) sells consumer telescopes.
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