MNC Capital Is Not Withdrawing, and Does Not Intend to Reduce, Its $43 Per Share Offer for Vista Outdoor
MNC Capital Partners, L.P. (MNC) has announced that it is maintaining its $43 per share all-cash offer for Vista Outdoor Inc. (NYSE: VSTO) and is committed to re-engaging with Vista on acquiring the entire company. MNC stated that the private equity firm involved in its acquisition efforts is still committed to acquiring Revelyst in any future MNC transaction supported by Vista.
The private equity firm had approached Vista and CSG to explore a transaction where all of Vista would be acquired, expressing interest only in acquiring Revelyst as part of a revised transaction with CSG. MNC believes that if stockholders do not approve the current CSG transaction, it can deliver a transaction for the entire company that stockholders will approve.
MNC Capital Partners, L.P. (MNC) ha annunciato che mantiene la sua offerta in contante di 43$ per azione per Vista Outdoor Inc. (NYSE: VSTO) ed è impegnata a riavviare il dialogo con Vista per acquisire l'intera azienda. MNC ha dichiarato che la società di private equity coinvolta nei suoi sforzi di acquisizione è ancora determinata ad acquisire Revelyst in qualsiasi futura transazione di MNC supportata da Vista.
La società di private equity si era avvicinata a Vista e a CSG per esplorare una transazione nella quale l'intera Vista sarebbe stata acquisita, esprimendo interesse solo per l'acquisizione di Revelyst come parte di una transazione rivista con CSG. MNC crede che se gli azionisti non approveranno l'attuale transazione con CSG, potrà presentare un'operazione per l'intera azienda che gli azionisti approveranno.
MNC Capital Partners, L.P. (MNC) ha anunciado que mantiene su oferta de 43$ por acción en efectivo para Vista Outdoor Inc. (NYSE: VSTO) y está comprometido a reiniciar las negociaciones con Vista para adquirir toda la compañía. MNC declaró que la firma de capital privado involucrada en sus esfuerzos de adquisición sigue comprometida a adquirir Revelyst en cualquier futura transacción de MNC respaldada por Vista.
La firma de capital privado había acercado a Vista y a CSG para explorar una transacción donde se adquiriera toda Vista, expresando interés sólo en adquirir Revelyst como parte de una transacción revisada con CSG. MNC cree que si los accionistas no aprueban la actual transacción con CSG, podrá entregar una transacción para toda la compañía que los accionistas aprobarán.
MNC Capital Partners, L.P. (MNC)는 주당 43달러의 전액 현금 제안을 유지하고 있다고 발표하며, Vista Outdoor Inc. (NYSE: VSTO)을 인수하기 위해 Vista와의 재접촉에 전념하고 있다고 전했다. MNC는 인수 노력을 하고 있는 사모펀드가 다가오는 MNC의 거래에서 Vista의 지원을 받아 Revelyst를 인수하는 데 여전히 전념하고 있다고 밝혔다.
사모펀드는 Vista와 CSG에 접근하여 Vista 전부를 인수하는 거래를 탐색했으며, CSG와의 수정된 거래의 일환으로서만 Revelyst를 인수하는 데 관심을 표명했다. MNC는 주주들이 현재 CSG 거래를 승인하지 않는다면, 주주들이 승인할 수 있는 전체 회사에 대한 거래를 제시할 수 있다고 믿고 있다.
MNC Capital Partners, L.P. (MNC) a annoncé qu'il maintient son offre de 43$ par action en espèces pour Vista Outdoor Inc. (NYSE: VSTO) et s'engage à renouer le dialogue avec Vista pour l'acquisition de l'ensemble de l'entreprise. MNC a déclaré que la société de capital-investissement impliquée dans ses efforts d'acquisition est toujours déterminée à acquérir Revelyst dans toute future transaction de MNC soutenue par Vista.
La société de capital-investissement avait approché Vista et CSG pour explorer une transaction dans laquelle toute la société Vista serait acquise, exprimant un intérêt uniquement pour l'acquisition de Revelyst dans le cadre d'une transaction révisée avec CSG. MNC pense que si les actionnaires n'approuvent pas la transaction actuelle avec CSG, elle pourra proposer une opération pour l'ensemble de l'entreprise que les actionnaires approuveront.
MNC Capital Partners, L.P. (MNC) hat angekündigt, dass es seines 43$ pro Aktie Barangebot aufrechterhält für Vista Outdoor Inc. (NYSE: VSTO) und sich verpflichtet, erneut mit Vista über die Übernahme des gesamten Unternehmens zu verhandeln. MNC erklärte, dass die an den Akquisitionsbemühungen beteiligte Private-Equity-Firma weiterhin an der Übernahme von Revelyst in jeder zukünftigen MNC-Transaktion, die von Vista unterstützt wird, interessiert ist.
Die Private-Equity-Firma hatte sich an Vista und CSG gewandt, um eine Transaktion zu erkunden, bei der ganz Vista übernommen werden sollte, und hatte lediglich Interesse an der Übernahme von Revelyst im Rahmen einer überarbeiteten Transaktion mit CSG bekundet. MNC ist der Ansicht, dass es, falls die Aktionäre die aktuelle Transaktion mit CSG nicht genehmigen, einen Vorschlag für das gesamte Unternehmen unterbreiten kann, den die Aktionäre genehmigen werden.
- MNC Capital maintains its $43 per share all-cash offer for Vista Outdoor
- Private equity firm remains committed to acquiring Revelyst in a potential MNC transaction
- Uncertainty surrounding the approval of the current CSG transaction
- Potential complications in the acquisition process due to multiple interested parties
Insights
This development in the Vista Outdoor acquisition saga is significant for investors. MNC Capital's reaffirmation of its
The ongoing bidding war for Vista Outdoor raises several legal considerations. MNC Capital's public statement about not withdrawing its offer could be seen as an attempt to influence shareholder opinion ahead of the vote on the CSG transaction. This strategy walks a fine line with SEC regulations on public communications during M&A processes. The board of Vista Outdoor has a fiduciary duty to consider all bona fide offers and act in the best interest of shareholders. If shareholders reject the CSG deal, Vista's board may be legally obligated to engage more seriously with MNC's proposal. The conditional interest of the PE firm in Revelyst adds another layer of complexity, potentially impacting how the board evaluates the competing offers. Shareholders should expect detailed disclosures from Vista regarding its evaluation of these proposals to ensure transparency and compliance with securities laws.
This situation exemplifies the dynamic nature of M&A markets in the consumer goods sector. Vista Outdoor, with its diverse portfolio including outdoor products and shooting sports, is attracting interest due to the strong performance of the outdoor recreation industry. The
MNC Capital Committed to Re-Engaging with Vista Outdoor on Acquisition of Entire Company
After Vista’s press release on Wednesday, MNC was advised by the PE Firm that it had approached Vista and CSG over this past weekend to explore whether they were prepared to consider a transaction where all of Vista was being acquired.
As Vista has disclosed in its own supplemental proxy filing, the PE Firm informed Vista that it was only interested in acquiring Revelyst as part of a revised transaction with CSG in which all of Vista would be sold and that it would not have any interest in acquiring Revelyst after the closing of the transaction with CSG.
Vista stockholders have no reason to believe that should they approve the current CSG transaction that Revelyst will be acquired after such approval. If the stockholders do not approve the CSG transaction, MNC believes that it can deliver a transaction for the entire company that stockholders will approve.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240920314373/en/
Media Contacts:
Michael Landau / Lauren Odell, Gladstone Place Partners
(212) 230-5930
Source: MNC Capital Partners, L.P.
FAQ
What is MNC Capital's current offer for Vista Outdoor (VSTO)?
Is MNC Capital still interested in acquiring the entire Vista Outdoor (VSTO) company?
What is the private equity firm's stance on acquiring Revelyst in the Vista Outdoor (VSTO) deal?
What happens if Vista Outdoor (VSTO) stockholders don't approve the CSG transaction?
