Vista Outdoor Rejects Indication Of Interest Received From MNC Capital - Quick Facts

(RTTNews) - Vista Outdoor Inc. (VSTO) said its Board, following consultation with its financial and legal advisors, has rejected the unsolicited indication of interest received from MNC Capital on March 25, 2024 pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista Outdoor share. The Board continues to recommend the acquisition of The Kinetic Group by Czechoslovak Group.

The company said the determination by the Board was based on a number of factors, including that the consideration of $37.50 in cash per Vista Outdoor share in the MNC revised indication significantly undervalues Vista and does not take into account the significant stockholder value that is expected to be created by the separation of Revelyst and The Kinetic Group into two independent companies.