Vista Outdoor Gets $2.9 Bln Takeover Proposal From MNC Capital: WSJ Report; Stock Gains

(RTTNews) - Sporting goods manufacturer Vista Outdoor Inc. (VSTO), Friday announced that it had received a proposal from investment firm MNC Capital Partners to buy the company for $35 per share in cash, which amounts to $2.9 billion, according to a report by the Wall Street Journal.

The publication reported that Vista's board is yet to make a final decision.

Earlier, Vista was in talks with Czech defense company Czechoslovak Group to sell the sporting goods business for $1.91 billion.

Following the announcement, Vista's stock is trading at $32.48, up 4.10 percent on the New York Stock Exchange.