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 Model No. 2 Army with Remington Arms, Smith & Wesson allowed Remington to convert Remington Model 1858 Percussion Cap revolvers into metallic cartridge .46 rimfire conversions using the Rollin White patent, against payment of a royalty fee. In 1869 the company developed a large frame break action single action revolver with an automatic empty case ejector, first produced 1870, in the calibers .44 S&W American and .44 Henry. The design is known as the Smith & Wesson Model 3. Smith & Wesson Model No. 2 Army The Smith & Wesson Model No. 2 Army a.k.a. "Model No. 2 Old Model Smith & Wesson Revolver"