(Reuters) – Vista Outdoor said on Monday it was rejecting investment firm MNC Capital’s revised offer to acquire the company and had agreed to an increased bid for its ammunitions unit from Czechoslovak Group (CSG).
The outdoor and sporting products maker said MNC’s final offer of $42.00 per share would not be more favorable to its stockholders from a financial point of view than CSG’s offer for its unit Kinetic Group.
Vista maintained that MNC’s offer undervalued its performance gear business, named Revelyst.
The company said CSG increased the purchase price for the proposed deal to buy Kinetic Group to $21.00 per share.
(Reporting by Juveria Tabassum; Editing by Shilpi Majumdar)
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