Gates Capital Management Believes $42 All-Cash Offer For Vista Outdoor Is Superior To The Proposed Sale Of The Kinetic Group To CSG; Reiterates Intention To Vote Against The CSG Proposal
Portfolio Pulse from Benzinga Newsdesk
Gates Capital Management, owning 9.6% of Vista Outdoor (NYSE: VSTO), believes that a $42 all-cash offer from MNC Capital Partners is superior to the proposed sale of The Kinetic Group to CSG. Gates Capital intends to vote against the CSG proposal, emphasizing that selling the entire company would provide better returns for shareholders.
July 26, 2024 | 12:32 pm
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Gates Capital Management, holding 9.6% of Vista Outdoor, supports a $42 all-cash offer from MNC Capital Partners over the sale of The Kinetic Group to CSG. Gates Capital believes this will provide better returns for shareholders.
Gates Capital Management's significant stake in Vista Outdoor and their public opposition to the CSG proposal in favor of MNC's offer is likely to influence other shareholders and drive positive sentiment towards VSTO. The $42 all-cash offer is seen as providing better returns, which could lead to a short-term increase in VSTO's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100