What's Going On With Vista Outdoor Stock Monday?
Portfolio Pulse from Shivani Kumaresan
Vista Outdoor Inc. (NYSE: VSTO) shares are trading higher after the company announced an amendment to its merger agreement with Czechoslovak Group a.s. (CSG), increasing the base purchase price for The Kinetic Group business by $40 million to $2 billion. The amendment also raises the cash consideration for Vista Outdoor stockholders by $2.00 per share, from $16.00 to $18.00. The transaction is expected to close in 2024, pending necessary approvals.
June 24, 2024 | 2:01 pm
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Vista Outdoor Inc. (NYSE: VSTO) shares are trading higher after the company announced an amendment to its merger agreement with Czechoslovak Group a.s. (CSG), increasing the base purchase price for The Kinetic Group business by $40 million to $2 billion. The amendment also raises the cash consideration for Vista Outdoor stockholders by $2.00 per share, from $16.00 to $18.00.
The amendment to the merger agreement with CSG, which increases the purchase price and cash consideration for stockholders, is a positive development for Vista Outdoor. This news has led to a 2.20% increase in VSTO shares, indicating a favorable market reaction. The transaction is expected to close in 2024, pending necessary approvals.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100