Vista Outdoor Says It Expects MNC Capital To Sweeten Offer Price
(RTTNews) - Vista Outdoor Inc. (VSTO) said Monday it is engaging in discussions with MNC Capital related to its March 25, 2024 unsolicited indication of interest pursuant to which MNC expressed interest in acquiring Vista Outdoor in an all-cash transaction for $37.50 per Vista share.
The Company advised MNC it expects MNC to deliver an improved economic proposal following the Company providing MNC with access to certain diligence information as permitted in accordance with the terms of the existing merger agreement with Czechoslovak Group a.s.
Given these ongoing discussions, the Company will adjourn the special meeting of its stockholders with respect to the CSG transaction.
Vista Outdoor remains bound by the terms of the merger agreement with CSG and the Vista Outdoor Board of Directors continues to recommend Vista stockholders vote in favor of the proposal to adopt the existing merger agreement with CSG.
Vista Outdoor continues to be confident that it will receive clearance from the Committee on Foreign Investment in the United States with respect to the proposed transaction with CSG and that all other closing conditions will be satisfied.
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