Vista Outdoor down; CSG raises offer price for co's unit to $2.15 bln

Vista Outdoor

22/07/2024 12:01

** Shares of sporting goods company Vista Outdoor  VSTO.N 
down 2.6% at $36.61 before the bell 
    ** Company says Czechoslovak Group (CSG) raises the base
purchase price for a fourth time for the proposed acquisition of
its ammunition business, Kinetic Group, by $50 mln to $2.15 bln
    ** The Prague-based defense firm CSG also raises the cash
consideration payable to Vista's shareholders by $3 per share
    ** Vista stockholders would receive $24 per share in cash
and one common stock of Revelyst, the company's performance gear
business, upon deal closing
    ** On July 8, Vista rejected investment firm MNC Capital's
final buyout offer of $3.2 bln, citing that it undervalued the
company, and agreed to the third time increased bid of $2.10 bln
from CSG
    ** Up to Friday's close, stock had risen ~27% so far this
year

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