Czech Arms Maker Raises Offer for Vista Ammo Unit to $2 Billion

Czechoslovak Group raised its offer for Vista Outdoor Inc.’s Kinetic Group ammunition unit to $2 billion, in an effort to seal a deal and ward off a competing takeover of the US maker of recreational products.

The revised agreement increases the cash consideration payable to Vista Outdoor shareholders by $2 a share to $18, according a as statement Monday. Shareholders would retain ownership of the remainder of Vista Outdoor, which sells biking, hunting and hiking accessories and will be renamed Revelyst Inc.

The deal would add Remington and Speer bullets to products from one of Europe’s biggest ammunition ...