Vista Outdoor down after it rejects MNC Capital's $2.9 bln buyout offer

Colt CZ SE

04/03/2024 14:07

** Shares of sporting and outdoor products group Vista
Outdoor  VSTO.N  down 1.2% at $32.8 premarket
    ** VSTO rejects $2.9 bln takeover offer from MNC Capital,
saying the bid "significantly undervalued" the company
    ** Company had rejected Czech gunmaker Colt CZ Group's
 CZG.PR  $30-a-share cash-and-stock merger offer in November for
the same reasons
    ** VSTO had said in October it would sell its sporting
products business to Czechoslovak Group a.s. in a $1.91 billion
deal
    ** Stock up 12.3% YTD, as of last close

 (Reporting by Pranav Kashyap in Bengaluru)
 ((Pranav.Kashyap@thomsonreuters.com;))