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InsideArbitrage Potential Deal Alert: MNC Capital Submits Proposal to Acquire Vista Outdoor (VSTO) for $35 Per Share in Cash

  • March 1, 2024

POTENTIAL DEAL DETAILS

StockVista Outdoor Inc.SymbolVSTO
Date Announced03/01/2024Source Press Release
TypeUnsolicited BidAcquiring Company/Person MNC Capital Partners

MNC Capital Partners today announced that on February 19, 2024, it submitted a proposal to acquire Vista Outdoor, Inc. (VSTO) for $35.00 per share.

Vista Outdoor Investor Relations

Update(s):

March 4, 2024: Vista Outdoor Inc. (VSTO) rejected a $2 billion takeover offer from MNC Capital, saying that a separate offer from Czechoslovak Group to buy its sporting products business is more favorable to shareholders.

Acquisition by CSG expected in 2024 pending approvals. MNC Capital’s offer, worth $35 a share in cash, undervalues Vista, board Chairman Michael Callahan said in a statement, in particular the Revelyst outdoor products business which is planned as a separate standalone.

March 25, 2024: Reuters reported, MNC Capital said it has raised its all-cash bid to acquire sporting and outdoor products maker Vista Outdoor (VSTO) to $3 billion from $2.9 billion.

The investment firm is offering $37.50 per share for all of Vista’s shares, up from its earlier bid of $35.

March 28, 2024: Vista Outdoor (VSTO) and Czechoslovak Group (CSG) announced that they have chosen to withdraw and resubmit their joint voluntary notice to the Committee on Foreign Investment in the U.S. (CFIUS). This decision was made to provide CFIUS with more time to thoroughly examine the proposed acquisition by CSG of Vista Outdoor’s The Kinetic Group business.

April 8, 2024: The Czechoslovak Group reaffirms its commitment to the proposed all-cash acquisition of Vista Outdoor (VSTO) Sporting Products business – recently renamed The Kinetic Group – for a total consideration of $1.91 billion, with fully committed financing from leading U.S. bank JP Morgan Chase. CSG also highlighted the benefits of its planned Acquisition.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.