Vista Outdoor announces increased purchase price for The Kinetic Group

Vista Outdoor announced that on July 21, 2024, the company entered into an amendment to the merger agreement with Czechoslovak Group, or CSG. The amended merger agreement with CSG further increases the base purchase price payable by CSG for the acquisition of The Kinetic Group business by $50M to $2.15B. In addition, Vista Outdoor has determined that an additional ~$125M of cash should be returned to Vista Outdoor’s stockholders as cash consideration. In total, the increase in the base purchase price payable by CSG combined with the additional cash being returned to stockholders by Vista Outdoor increases the cash consideration payable to Vista Outdoor stockholders in the CSG Transaction by $3.00 per share to $24.00 in cash per share of Vista Outdoor common stock. Based on the amended merger agreement with CSG, Vista Outdoor stockholders will receive at the closing of the CSG Transaction, $24.00 per share in cash and one share of Revelyst common stock, in each case, per share of Vista Outdoor common stock. The $2.15B purchase price, representing a $240M increase from the original $1.91B purchase price, and cash consideration of $24.00 per share of Vista Outdoor common stock, is close to double the cash consideration per share from the original cash consideration of $12.90 per share of Vista Outdoor common stock, and a share of Revelyst stock.