Vista Outdoor rejects MNC's buyout offer, agrees to CSG's sweetened bid for unit (updated)

Vista Outdoor

08/07/2024 11:28

(Adds details from the release)
       July 8 (Reuters) - Vista Outdoor  VSTO.N  said on Monday
it was rejecting investment firm MNC Capital's revised offer to
acquire the company and had agreed to an increased bid for its
ammunitions unit from Czechoslovak Group (CSG).
    The outdoor and sporting products maker said MNC's final
offer of $42.00 per share would not be more favorable to its
stockholders from a financial point of view than CSG's offer for
its unit Kinetic Group.
    Vista maintained that MNC's offer undervalued its
performance gear business, named Revelyst.
    The company said CSG increased the purchase price for the
proposed deal to buy Kinetic Group to $21.00 per share.

 (Reporting by Juveria Tabassum; Editing by Shilpi Majumdar)
 ((Juveria.Tabassum@thomsonreuters.com;))