🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Vista Outdoor weighs revised buyout offer from MNC Capital

EditorLina Guerrero
Published 03/25/2024, 05:22 PM
© Reuters.

ANOKA, Minn. - Vista Outdoor Inc . (NYSE: NYSE:VSTO), a leading provider of outdoor sports and recreation products, is currently evaluating a revised acquisition proposal from MNC Capital. The new all-cash offer of $37.50 per share comes after Vista Outdoor's board rejected an initial bid of $35.00 per share made by MNC on February 19, 2024.

The initial proposal was dismissed by the board on March 4, 2024, after a detailed review with legal and financial advisors. The board concluded that the offer was not financially superior to the existing merger agreement with Czechoslovak Group a.s. (CSG), and raised concerns about the feasibility of completion.

Despite the revised offer, Vista Outdoor's board has not yet made a decision regarding the new indication of interest from MNC and continues to support the transaction with CSG for the acquisition of its Sporting Products business. The board is carefully considering the revised proposal in line with its fiduciary duties and the terms of the current CSG merger agreement.

Vista Outdoor advises its stockholders that no action is required from them at this time. The company's financial advisors, Morgan Stanley & Co (NYSE:MS). LLC, and legal advisors, Cravath, Swaine & Moore LLP, along with Moelis (NYSE:MC) & Company LLC and Gibson, Dunn & Crutcher LLP, who are advising the independent directors, are assisting in the review of the revised offer.

The company, home to brands such as Bushnell, CamelBak, and Federal Ammunition, has stated that its board is dedicated to acting in the best interests of its stockholders.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.