MNC Capital offers to acquire Vista for $43 per share (updated)

Vista Outdoor

07/09/2024 17:34

(Updates with details throughout)
       Sept 7 (Reuters) - Investment firm MNC Capital said on
Saturday that it has increased its all cash buyout offer for
Vista Outdoor  VSTO.N  to $43 per share from $42. 
        The offer values Vista at $2.51 billion, and represents
a 12.30% premium over Vista's last closing price of $38.29 on
Friday, according to Reuters calculation and LSEG data. 
  
    The U.S. firm said it had sent a letter to Vista on Friday
stating, "MNC is now prepared to offer an increased all-cash
purchase price of $43.00 per share for Vista, despite
substantial market headwinds for consumer spending and softness
in Vista's recent quarterly results."
    Vista previously rejected the investment firm's buyout offer
of $3.2 billion stating that it undervalued the company. 
        The latest development adds to the months-long saga for
the parent of Federal Ammunition and Remington Ammunition
against the backdrop of rising demand for military supplies
since the escalation of the Russia-Ukraine conflict in 2022.
  
        
  
        
  
        
  
        
  
    

 (Reporting by Gursimran Kaur in Bengaluru and Abigail
Summerville in New York; editing by Diane Craft and Franklin
Paul)
 ((GursimranKaur.Mehar@thomsonreuters.com;))