Gates Capital Management Opposes Vista Outdoor's Proposed Sale Of The Kinetic Group To CSG; Says "Tax-Free Spin-Off Or Cash Offer For The Entire Company Are Superior To The Proposed Sale Of The Kinetic Group"
Portfolio Pulse from Benzinga Newsdesk
Gates Capital Management opposes Vista Outdoor's proposed sale of The Kinetic Group to CSG, advocating instead for a tax-free spin-off or a cash offer for the entire company. Gates Capital, which owns 9.6% of Vista Outdoor, sent a letter to the Board of Directors expressing their intention to vote against the sale.
July 17, 2024 | 12:34 pm
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Gates Capital Management, owning 9.6% of Vista Outdoor, opposes the proposed sale of The Kinetic Group to CSG, suggesting a tax-free spin-off or cash offer as better alternatives. This opposition could lead to uncertainty and potential delays in the sale process.
Gates Capital Management's significant stake in Vista Outdoor and their opposition to the proposed sale could create uncertainty and potential delays in the sale process. This may negatively impact investor sentiment in the short term.
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