Vista Outdoor Board Unanimously Recommends CSG Deal, Rejects Last Proposal From MNC Capital

(RTTNews) - Vista Outdoor Inc. (VSTO) Wednesday announced that its Board of Directors unanimously recommends stockholders vote for the transaction with Czechoslovak Group a.s. to acquire The Kinetic Group and invest in Revelyst. The board also unanimously rejects the last proposal from MNC Capital.

The company said that after it announced its intention to separate Revelyst and The Kinetic Group in May 2022, the Board undertook a thorough process to unlock stockholder value, engaging with 26 counterparties that were each given fair and full consideration.

CSG agreed to acquire The Kinetic Group for $2.15 billion, which is about $250 million higher than the implied valuation of MNC's last proposal, and agreed to purchase shares representing 7.5% of standalone Revelyst for $150 million, valuing Revelyst at $2.0 billion.