Vista Outdoors update

[Indy574]

Saw this today.

MSN

www.msn.com

 

[TheGrumpyGuy]

Saw this today.

MSN

www.msn.com

and what does it say?

 

[DadSmith]

and what does it say?

An investment firm made an unsolicited bid for Vista Outdoor that values the maker of sporting goods and ammunition at $2.9 billion including debt.

MNC Capital Partners proposed buying Vista for $35 per share in cash, according to a letter to the company’s board dated Feb. 19 that was seen by The Wall Street Journal.

Vista’s board has been reviewing the offer but has yet to agree to anything with Colleyville, Texas-based MNC. The investment firm made its proposal public Friday in a move that could put pressure on Vista’s board. Vista shares jumped more than 6% on the news.

At the time of the proposal, Vista’s share price was trading below $30 per share. It closed Thursday at $31.20, giving the company a market capitalization of $1.8 billion.
MNC said its offer would be superior to the company’s previously announced plans to sell its sporting-goods business, which includes ammunition brands such as Remington, to Czech defense company Czechoslovak Group for $1.91 billion.

The investment firm, whose Mark Gottfredson sat on Vista’s board until he resigned in January, said its offer would allow the sporting-products business and the national-security assets to remain under U.S. ownership, removing the need for a so-called CFIUS review.

Anoka, Minn.-based Vista said last year that once its deal with the Czech defense company closed, it would rebrand its outdoor-products brands, which include CamelBak and Bushnell Golf, as Revelyst.

In November, firearms manufacturer Colt CZ Group sought to disrupt the deal with Czechoslovak Group, making its own unsolicited offer to buy all of Vista for $30 a share. Vista rejected the offer, saying it undervalued the company and wasn’t as favorable as the deal with Czechoslovak Group.

In 2022, Vista said it planned to spin off the outdoor-products business, before receiving the Czech offer.

Updates to follow as news develops

Will Feuer contributed to this article.

Write to Lauren Thomas at lauren.thomas@wsj.com

 

[TheGrumpyGuy]

An investment firm made an unsolicited bid for Vista Outdoor that values the maker of sporting goods and ammunition at $2.9 billion including debt.

MNC Capital Partners proposed buying Vista for $35 per share in cash, according to a letter to the company’s board dated Feb. 19 that was seen by The Wall Street Journal.

Vista’s board has been reviewing the offer but has yet to agree to anything with Colleyville, Texas-based MNC. The investment firm made its proposal public Friday in a move that could put pressure on Vista’s board. Vista shares jumped more than 6% on the news.

At the time of the proposal, Vista’s share price was trading below $30 per share. It closed Thursday at $31.20, giving the company a market capitalization of $1.8 billion.
MNC said its offer would be superior to the company’s previously announced plans to sell its sporting-goods business, which includes ammunition brands such as Remington, to Czech defense company Czechoslovak Group for $1.91 billion.

The investment firm, whose Mark Gottfredson sat on Vista’s board until he resigned in January, said its offer would allow the sporting-products business and the national-security assets to remain under U.S. ownership, removing the need for a so-called CFIUS review.

Anoka, Minn.-based Vista said last year that once its deal with the Czech defense company closed, it would rebrand its outdoor-products brands, which include CamelBak and Bushnell Golf, as Revelyst.

In November, firearms manufacturer Colt CZ Group sought to disrupt the deal with Czechoslovak Group, making its own unsolicited offer to buy all of Vista for $30 a share. Vista rejected the offer, saying it undervalued the company and wasn’t as favorable as the deal with Czechoslovak Group.

In 2022, Vista said it planned to spin off the outdoor-products business, before receiving the Czech offer.

Updates to follow as news develops

Will Feuer contributed to this article.

Write to Lauren Thomas at lauren.thomas@wsj.com

Thanks Dad!

 

[Ark]

Getting bought out by private equity is NEVER good for consumers.

 

[Magyars]

Getting bought out by private equity is NEVER good for consumers.

And who is behind the unsolicited offer?

 

[Expat]

So we have a choice of yet another corporate raider or some group of foreigners.

 

[nucular]

A

Getting bought out by private equity is NEVER good for consumers.

Amen to that. The only winners in that scenario is the PE group and nobody else.

 

[MrSmitty]

So they cancelled the Czech.......





My inner 12 year old had to post this...he keeps getting out.... he does have the bestest toys though....