Smith & Wesson NRA and NSSF over the issue of smart guns, thousands of retailers and tens of thousands of firearms consumers boycotted Smith & Wesson. CEO Ed Shultz, who negotiated the deal, was forced out in September of that year. By December 2000, the company's stock price was 19 cents per share. Smith & Wesson dropped its smart gun plans after nearly being driven out of business. On May 11, 2001, Saf-T-Hammer Corporation acquired Smith & Wesson Corp. from Tomkins plc for US$15 million, a fraction of the US$112 million originally paid by Tomkins. Saf-T-Hammer assumed US$30 million in debt, bringing the
Smith & Wesson its most widely used revolver, the .38 Military & Police (also known as the Smith & Wesson Model 10). With over 6 million produced, it became the standard sidearm of American police officers for much of the 20th century. An additional 1 million of these guns were made for the US Military during World War II. The post-war periods in the 20th century were times of great innovation for the company. In 1935 Smith and Wesson released the Smith & Wesson Model 27 which was the first revolver chambered for .357 Magnum. It was designed as a more powerful handgun