Vista Outdoor Inc Stock Price, News & Analysis

Vista Outdoor (NYSE: VSTO) and Czechoslovak Group (CSG) announced that the Committee on Foreign Investment in the United States (CFIUS) has cleared CSG's proposed acquisition of Vista Outdoor's The Kinetic Group. This marks the final regulatory approval needed to close the transaction. A special meeting of Vista Outdoor stockholders is scheduled for July 2, 2024, to vote on the merger agreement. The Board of Directors recommends stockholders vote in favor. The transaction offers a $2 billion purchase price, $90 million higher than initially proposed, and provides $18.00 in cash per share, up from $12.90. Morgan Stanley & Co. and Cravath, Swaine & Moore LLP are advising Vista Outdoor.

Vista Outdoor (NYSE: VSTO) has amended its merger agreement with Czechoslovak Group (CSG), increasing the purchase price for The Kinetic Group business from $1.96 billion to $2 billion. This amendment also raises the cash consideration for stockholders by $2 per share, totaling $18 per share. The deal, expected to close in 2024, is subject to stockholder approval and regulatory clearance. Vista Outdoor will return an additional $77 million in excess cash to shareholders. The transaction, advised by Morgan Stanley and Cravath, Swaine & Moore for Vista Outdoor, and Moelis & Company and Gibson, Dunn & Crutcher for Vista's independent directors, is projected to maximize stockholder value.

Vista Outdoor has reaffirmed its recommendation for stockholders to vote in favor of a $1.96 billion cash merger agreement with Czechoslovak Group (CSG). The company remains confident in receiving clearance from the Committee on Foreign Investment in the United States (CFIUS) and satisfying all closing conditions. This follows the withdrawal of a higher $2.0085 billion offer from a U.S.-based private investment firm, which was pressured by MNC Capital Partners due to alleged contractual violations. Vista Outdoor believes CSG will be a beneficial owner for The Kinetic Group.

Revelyst, a segment of Vista Outdoor (NYSE: VSTO), has released its 2024 summer gift guide, the 'Revelyst Lyst'. This curated guide features innovative products from their iconic brands, designed for activities like riding, fishing, golfing, hiking, and cooking. Items included are Bell Helmets' Sanction 2 DLX MIPS, CamelBak's Podium Steel 22oz Bike Bottle, Fox Racing's Comp Boots, QuietKat's Ranger AWD eBike, and more. Each product is crafted with quality and innovation in mind, aiming to enhance outdoor adventures. The guide is available for summer enthusiasts looking for top-notch gear.

Vista Outdoor announced the rejection of an unsolicited acquisition offer from MNC Capital, which proposed an all-cash transaction at $39.50 per share. After thorough evaluation, the Board determined that MNC's proposal undervalued the company compared to a merger agreement with Czechoslovak Group (CSG). Vista Outdoor has filed a supplementary presentation with the SEC outlining this decision.

The company also confirmed receiving a $2+ billion offer from a U.S.-based private investment firm for The Kinetic Group, which the Board believes could lead to a superior proposal. Despite these developments, Vista remains committed to the CSG merger agreement.

Vista Outdoor has received a $2.008 billion offer from a U.S. based private investment firm for The Kinetic Group, which includes a $47.75 million break fee payable to Czechoslovak Group if the deal proceeds. The Vista Board believes this offer could lead to a superior proposal compared to its existing agreement with CSG. However, the Board still recommends the CSG acquisition and expects regulatory clearance. Vista will adjourn a stockholder meeting to July 2, 2024, to discuss the new offer.

Additionally, Vista’s Board has rejected MNC Capital’s offer to buy Vista Outdoor for $39.50 per share. Financial and legal advisers have been appointed to assist in these matters.

MNC Capital Partners has raised its all-cash offer to acquire all outstanding shares of Vista Outdoor (NYSE: VSTO) for $39.50 per share, valuing the deal at over $3 billion.

This revised proposal offers a 46% premium to Vista Outdoor's volume-weighted average price (VWAP) from the October 16, 2023, announcement of its transaction with Czechoslovak Group (CSG) to February 19, 2024, and a 30% premium to its last closing price before MNC's initial offer.

The offer values Revelyst at over $1 billion, compared to Vista's valuation of $570 million. However, MNC's proposal is contingent on the Transaction Expenses being $50 million, subject to adjustments based on actual expenses.

MNC has expressed dissatisfaction with Vista's lack of cooperation in providing necessary due diligence and transaction-related information. The revised offer is not subject to a financing condition, with debt commitment terms already in place.

Vista Outdoor (NYSE: VSTO) has rejected an unsolicited all-cash acquisition offer from MNC Capital at $37.50 per share. The Board, after consulting financial and legal advisors, concluded that MNC's offer undervalues the company, especially the Revelyst business. Vista Outdoor plans to achieve mid-teens adjusted EBITDA margin and aims for $100 million EBITDA improvement by FY27. The company also highlights a pending transaction with CSG, which includes a higher purchase price, expecting to deliver $25-30 million savings and double standalone adjusted EBITDA in FY25. The Board is committed to maximizing shareholder value and believes the CSG transaction is in the best interest of its stockholders.

Vista Outdoor (NYSE: VSTO) announced an amendment to its merger agreement with Czechoslovak Group (CSG), increasing the purchase price for The Kinetic Group business by $50 million to $1.96 billion. The cash consideration for Vista Outdoor shareholders rose by 24%, from $12.90 to $16.00 per share. The company plans to return $130 million of excess cash to shareholders and anticipates the transaction will close in 2024, pending regulatory and shareholder approvals. Revelyst intends to distribute any remaining cash over $250 million post-transaction via share buyback or special dividend.