Vista Outdoor gets $2.9 billion takeover offer, WSJ reports (updated)

Colt CZ SE

01/03/2024 14:25

(Adds background from the report and shares)
       March 1 (Reuters) - Sporting and outdoor products group
Vista Outdoor  VSTO.N  received a $2.9 billion takeover offer,
including debt from investment firm MNC Capital, the Wall Street
Journal reported on Friday.
        Shares of the company were up 9% at $34.02 in premarket
trading.
  
        The investment firm has proposed to buy Vista for $35
per share in cash, according to a letter seen by the Wall Street
Journal.
  
        Late last year, Vista rejected a cash-and-stock offer
from Czech gunmaker Colt CZ Group  CZG.PR  saying it undervalued
the company and was not better for shareholders than a rival
bid. Colt's offer valued the company at a 16% premium.

 (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Anil D'Silva)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;))