MNC Capital raises bid to acquire Vista Outdoor to $3.2 bln (updated)

Vista Outdoor

26/06/2024 11:43

(Adds background in paragraph 3)
       June 26 (Reuters) - MNC Capital has increased its bid to
acquire sporting and outdoor goods company Vista Outdoor
 VSTO.N  to $3.2 billion, or $42 per share, the investment firm
said on Wednesday.
    Vista Outdoor's shares were up about 13% to $38 in premarket
trading.
    Earlier in June, MNC Capital raised its offer for Vista to
$39.50 per share, after its previous bid of $37.50 per share was
rejected, saying it undervalued the company and its performance
gear business Revelyst.
    Vista did not immediately respond to a Reuters request for
comment.

 (Reporting by Granth Vanaik in Bengaluru; Editing by Shounak
Dasgupta)
 ((Granth.Vanaik@thomsonreuters.com | On X : https://twitter.com/Vanaik_Granth))