Vista Outdoor to review strategic alternatives for performance gear unit (updated)

Vista Outdoor

30/07/2024 11:27

(Adds details in paragraph 2, background in paragraphs 3,4)
       July 30 (Reuters) - Vista Outdoor  VSTO.N  said on
Tuesday it was reviewing alternatives for its performance gear
business, Revelyst, including a sale, and was engaging with MNC
Capital in relation to the investment firm's proposal to buy the
entire company.
    It expects MNC to be able to confirm an increased proposal
for the acquisition of Vista Outdoor in short order.
    Vista had rejected MNC's final buyout offer of $3.2 billion,
or $42 per share, for the entire company earlier this month,
saying the bid undervalued Revelyst.
    Last week, Czechoslovak Group raised the base purchase price
for its ammunition business, Kinetic Group, by $50 million to
$2.15 billion.
    MNC Capital and CSG did not immediately respond to Reuters'
request for comment.

 (Reporting by Savyata Mishra in Bengaluru; Editing by Shilpi
Majumdar)
 ((Savyata.Mishra@thomsonreuters.com;))