InsideArbitrage Potential Deal Alert: Vista Outdoor (VSTO) Announces Receipt of Unsolicited Proposal from Colt CZ

POTENTIAL DEAL DETAILS

Firearms manufacturer Colt CZ Group has made an unsolicited offer to acquire Vista Outdoor (VSTO) that values its equity at $1.74 billion, seeking to block the latter’s proposed merger with a Czech industrial technology company.

Colt has proposed a cash-and-stock merger with the sporting and outdoor-goods company that would value its shares at $30 each, Vista said.

Letter Colt wrote to Vista’s board 

Press Release

Vista Outdoor Investor Relations

Update(s):

November 29, 2023: Vista Outdoor (VSTO) rejected a cash-and-stock merger offer from Colt CZ Group (CZG.PR), saying it undervalued the company and was not better for shareholders than a rival bid.

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