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Federal ammunition owner gets sweetened offer from Czech company, rejects latest from U.S. investors

Vista Outdoor said Tuesday that the Czech company CSG has raised its bid for its ammunition brands, including Federal, by $50 million.

The Anoka-based Vista also said it rejected a revised offer from MNC Capital Partners to take the whole company private, despite continued pressure from conservative politicians to sell the ammunition brands to a U.S. company.

CSG says it will now pay $1.96 billion for the Kinetic Group, the collection of ammunition brands that also includes the Remington, Speer and CCI brands. Under the proposal, Vista's outdoor product brands would remain as a standalone public company called Revelyst Inc., the updated CSG offer Vista's shareholders would get $16 per share for every share of Vista Outdoor they own and one share of the new company, Revelyst Inc. Vista said because of aggressive debt repayment in its fourth quarter, shareholders would also likely get a bigger special dividend after the deal closes. Revelyst would issue the special dividend on cash that exceeds $250 million.

https://www.startribune.com/vista-rejects-mnc-bid-czech-company-csg-offer-moves-forward/600369236/

 

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