Sat Oct 05 01:45:30 UTC 2024: ## Vista Outdoor Sells Itself in Two Parts for $3.35 Billion, Ending Hostile Takeover Bid

**NEW YORK** – Vista Outdoor, a leading manufacturer of sporting goods and ammunition, has agreed to sell its business in two separate transactions for a total of $3.35 billion, including debt. This comes after the company successfully fended off a months-long hostile takeover attempt by investment firm MNC Capital.

Vista will sell its sporting goods unit, Revelyst, to investment firm Strategic Value Partners for $1.1 billion. Meanwhile, the company has revised the terms of its previously agreed deal to sell its ammunition business, Kinetic, to Czech defense contractor Czechoslovak Group (CSG), increasing the offer price to $2.2 billion.

This combined deal values Vista at $45 per share, surpassing MNC Capital’s $43 per share offer. Vista’s board of directors unanimously approved the transaction, which is expected to close by January, subject to regulatory approvals.

The move comes after a tumultuous period for Vista, which faced pressure from MNC Capital, led by former Vista board member Mark Gottfredson. The investment firm repeatedly attempted to acquire Vista throughout the year, citing the rising demand for military supplies in the wake of the Russia-Ukraine conflict. However, Vista ultimately opted to move forward with the two separate deals, seeing them as a way to maximize value for shareholders.

“The board has worked tirelessly to deliver maximum value to its stockholders, and we are pleased to have reached this agreement with SVP and CSG which helps us achieve that objective,” said Michael Callahan, chairman of Vista’s board of directors.

The transaction has drawn mixed recommendations from proxy advisory firms. Glass Lewis recommended that Vista shareholders vote in favor of the merger with CSG, while Institutional Shareholder Services recommended a vote against it.

Vista’s stock price has risen about 35% since the beginning of the year, closing at $39.84 on Friday. The company’s market value is currently estimated at $2.33 billion.

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