As time starts to run out, Vista Outdoor continues to back ammunition group deal with Czech company

Less than a month before a proposed deal to sell Vista Outdoor’s ammunition group expires, the Anoka-based company’s board officially rejected the latest offer from a competing firm.

MNC Capital, a group of U.S. investors based in Texas, had upped its offer for all of Vista to $43 a share, which would total about $3.2 billion.

The board also stamped its approval on the latest offer from Prague-based Czechoslovak Group (CSG) for the ammunition group, which includes the more than 100-year-old local Federal brand.

The company in a news release said the CSG deal “is the optimal path to deliver the highest value to Vista Outdoor stockholders.”

A rescheduled special shareholder meeting is set for Sept. 27, but the deal now faces a termination date based on provisions of the original deal with CSG.

The Czech industrial and technology holding company first announced its deal to buy Kinetic on Oct. 16, 2023. That agreement included a termination date of Oct. 15, 2024.

Termination dates are standard in merger and acquisition agreements; deals rarely reach that point.

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