Jul 11, 2024 - Business
Vista Outdoor's new problem with proposed ammo unit sale
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Vista Outdoor's saga has taken a surprise twist, as influential stockholder advisory firm Institutional Shareholder Services reversed its support for the company's planned sale of its ammo business to Czech arms company Czechoslovak Group.
Why it matters: This could be a boost for the Dallas family office MNC Capital, whose $42 per share, all-cash bid for the entire company was rejected.
- In a statement, Minnesota-based Vista argued that ISS "relies heavily on inaccurate claims made by MNC."
- Look ahead: A shareholder vote is scheduled for July 23 on the ammo unit sale to Czechoslovak Group, which recently received CFIUS approval.
