Vista Outdoor Board Unanimously Recommends CSG Transaction; Enters Amendment To CSG Merger Agreement As Cash Consideration Increased To $21/Share
Portfolio Pulse from Benzinga Newsdesk
Vista Outdoor's Board has unanimously recommended the CSG transaction, amending the merger agreement to increase the cash consideration to $21 per share. The purchase price for The Kinetic Group business has been raised by $100 million to $2.1 billion. A special meeting for Vista Outdoor stockholders to vote on the merger is scheduled for July 23, 2024. The Board also rejected MNC's final offer as inadequate.
July 08, 2024 | 10:05 am
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Vista Outdoor's Board has recommended the CSG transaction, increasing the cash consideration to $21 per share. The purchase price for The Kinetic Group business has been raised by $100 million to $2.1 billion. A special meeting for stockholders to vote on the merger is scheduled for July 23, 2024. The Board also rejected MNC's final offer as inadequate.
The increase in cash consideration to $21 per share and the higher purchase price for The Kinetic Group business are positive developments for Vista Outdoor stockholders. The Board's rejection of MNC's offer as inadequate further supports the CSG transaction. These factors are likely to positively impact VSTO's stock price in the short term.
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