By Vista Outdoor Inc.’s stock saw a 0.9% decrease early Monday following the rejection of an unsolicited bid from MNC Capital offering $35 a share in cash. The Wall Street Journal reported the bid on Feb. 19, valuing the company at $2.9 billion, including debt. Despite this offer, the board remains committed to their strategy of standing up the Outdoor Products business (“Revelyst”) as a standalone public company to drive maximum value for stockholders.
Sporting Products Acquisition
The board continues to recommend the acquisition of the sporting products business by Czechoslovak Group a.s., expecting the deal to be finalized in 2024 pending approval from shareholders and regulators. The company is actively working with the Committee on Foreign Investment in the United States (“CFIUS”) to obtain clearance for the transaction.
Defending Shareholder Interests
Chairman Michael Callahan emphasized that the MNC offer “significantly undervalues the company” and is not in the best interest of shareholders. Despite the recent stock dip, which has gained 14.6% in the last 12 months, Vista Outdoor Inc. is focused on enhancing shareholder value and pursuing strategic initiatives for long-term success.
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