Vista Outdoor board ‘carefully reviewing’ MNC indication of interest

Vista Outdoor has received an unsolicited indication of interest from MNC Capital pursuant to which MNC expresses its interest in acquiring Vista Outdoor in an all-cash transaction for $35.00 per Vista share. As previously announced, on October 15, 2023, Vista Outdoor entered into an agreement and plan of merger pursuant to which Vista Outdoor has agreed to sell its Sporting Products business to Czechoslovak Group for an enterprise value of $1.91B in an all-cash transaction subject to customary closing conditions. The company said, “Vista Outdoor’s Board of Directors has not made any determination with respect to the MNC Indication within the framework contemplated by the existing merger agreement with CSG, which remains in effect, nor has it changed its recommendation in support of the acquisition of its Sporting Products business by CSG. Vista Outdoor’s Board of Directors is carefully reviewing the MNC Indication, in accordance with its fiduciary duties and its obligations under the existing merger agreement with CSG, in consultation with its financial and legal advisors. Vista Outdoor’s Board of Directors remains committed to acting in the best interests of Vista Outdoor stockholders. Vista Outdoor stockholders do not need to take any action at this time.”