Vista Outdoor Surges As MNC Capital Ups The Ante With Sweetened Bid: Details
Portfolio Pulse from Lekha Gupta
Vista Outdoor Inc. (NYSE: VSTO) shares surged after MNC Capital increased its acquisition offer to over $3.0 billion, representing a 46% premium to the VWAP from the announcement of Vista’s transaction with the Czechoslovak Group a.s. The revised offer is over a 30% premium to the last closing price before MNC’s initial offer. The offer also implies a valuation for Revelyst of over $1 billion, compared to Vista’s valuation of $570 million. VSTO shares are up 6.97% premarket.
June 06, 2024 | 12:35 pm
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Vista Outdoor Inc. (NYSE: VSTO) shares surged after MNC Capital increased its acquisition offer to over $3.0 billion, representing a 46% premium to the VWAP from the announcement of Vista’s transaction with the Czechoslovak Group a.s. The revised offer is over a 30% premium to the last closing price before MNC’s initial offer. The offer also implies a valuation for Revelyst of over $1 billion, compared to Vista’s valuation of $570 million. VSTO shares are up 6.97% premarket.
The increased acquisition offer from MNC Capital represents a significant premium to Vista Outdoor's recent stock prices, which is likely to drive the stock price higher in the short term. The market has already reacted positively, with shares up 6.97% premarket.
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