Vista Outdoor Board Rejects MNC’s $2 Billion Takeover Offer (1)

Vista Outdoor Inc. rejected a $2 billion takeover offer from MNC Capital, saying that a separate offer from Czechoslovak Group to buy its ammunition products business is more favorable to shareholders.

MNC Capital’s unsolicited offer undervalues Vista, in particular the Revelyst outdoor products business, which is planned as a separate standalone, Chairman Michael Callahan said in a statement on Monday. MNC offered to pay $35 per share in cash but hasn’t produced evidence of committed financing, Vista said.

The deal “is not reasonably capable of being completed and does not constitute a basis for engagement with MNC,” Callahan wrote ...