Vista Outdoor Urges Shareholders To Vote For Sale Of Kinetic Group Business To CSG

(RTTNews) - The board of Vista Outdoor Inc. (VSTO) recommended to its shareholders that they vote for the proposed sale of its The Kinetic Group business to Czechoslovak Group.

This follows MNC Capital's efforts to acquire Vista Outdoor in an all-cash deal for $42.00 per share.

Vista is of the view that MNC's offer fundamentally undervalues Revelyst Inc., Vista's outdoor products company.

"Why would Vista Outdoor choose to sell Revelyst now at a discount to an opportunistic party like MNC without running a comprehensive process in the right market environment as we did for The Kinetic Group?" Vista said in a release.

"In contrast, the CSG Transaction achieves the objective the Board set out to accomplish when it announced the plan to separate the businesses in May 2022: maximizing the value of Vista Outdoor's two business segments for the benefit of stockholders," it added.