Vista Outdoor postpones special meeting of stockholders to July 23 (updated)

Vista Outdoor

27/06/2024 12:18

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       June 27 (Reuters) - Vista Outdoor  VSTO.N  has pushed
the special meeting of its stockholders to July 23 from July 2,
the sports and outdoor goods company said on Thursday, as it
would like to engage with them prior to their vote in light of
recent developments.
        Vista has been at the center of a bidding war for its
ammunition business, Kinetic Group, from Czechoslovak Group
(CSG) and for the entire company by MNC Capital, amid rising
demand for military supplies since the start of the
Russia-Ukraine conflict.
  
        Investment firm MNC Capital had raised its bid for the
parent of Federal Ammunition to $3.2 billion on Wednesday, just
days after the U.S. company agreed to sell its sporting goods
and ammunition business to Prague-based CSG.
  
        Vista also confirmed on Thursday that it has received a
revised indication of interest from MNC Capital and that it
would carefully review the offer.
  

 (Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh
Kuber and Maju Samuel)
 ((Granth.Vanaik@thomsonreuters.com | On X : https://twitter.com/Vanaik_Granth;))