Vista Outdoor (VSTO) shares surged in premarket trading Tuesday after the company said it would undergo a "review of strategic alternatives" to consider its options amid a monthslong bidding war between The Czechoslovak Group (CSG) and private-equity backed offers from MNC Capital.
Vista Outdoor Inc. VSTO, +0.60% announced a review of its strategic alternatives early Tuesday and said its options include a potential sale of Revelyst, the unit houses the company's outdoor-products business of golfing, fishing equipment and branded biking. The Czechoslovak Group, or CSG, is also considering an acquisition of Revelyst in addition to its proposed plan to buy The Kinetic Group, which houses Vista's ammunition business.
Vista Outdoor (VSTO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Vista Outdoor said on Monday Czechoslovak Group had raised the base purchase price for a proposed acquisition of its ammunition business, Kinetic Group, by $50 million to $2.15 billion.
Proxy advisory firm Glass Lewis has recommended Vista Outdoor shareholders to vote in favor of the proposed merger of the company's ammunition unit with Czechoslovak Group (CSG), in a report seen by Reuters on Thursday.
Vista Outdoor said on Monday it was rejecting investment firm MNC Capital's revised offer to acquire the company and had agreed to an increased bid for its ammunitions unit from Czechoslovak Group (CSG).
Vista Outdoor Inc. NYSE: VSTO is an outdoor products company comprised of many brands in the sporting and outdoor categories. While other outdoor stocks are selling off, Vista stock trades near 52-week highs, trading up 27.3% year-to-date (YTD).
Shares of Vista Outdoor (VSTO) are rising in premarket trading Wednesday after MNC Capital said it's raising its all-cash offer for the full company to $42 per share, about $3.2 billion.
MCN Capital Partners L.P. said Wednesday it has raised its all-cash bid for Vista Outdoor Inc. VSTO, -2.71% to $42 a share, or about $3.2 billion, from $39.50 previously.
Vista Outdoor and Czechoslovak Group (CSG) said on Tuesday that they had received regulatory approval from an interagency committee of the United States government for the proposed sale of Vista's sporting products and ammunition business to the Prague-based defense firm.
Vista Outdoor Inc. said Monday the Czechoslovak Group A.S. has increased its bid for its Kinetic Group business by $40 million to $2 billion and raised the cash consideration by $2 a share to $18.
Vista Outdoor said on Monday it had rejected a sweetened bid for the company by investment firm MNC Capital, and that a private investment firm had offered to buy its sporting products unit for more than $2 billion.