Vista Outdoor To Adjourn Special Meeting of Stockholders to October 9, 2024
Vista Outdoor Inc. (NYSE: VSTO) has announced the adjournment of its special meeting of stockholders to October 9, 2024, at 9:00 am (Central Time). The meeting aims to vote on and approve the merger with Czechoslovak Group a.s. (CSG). The company is actively discussing with CSG and a private equity firm partnered with MNC Capital regarding a potential sale of Revelyst.
The Board of Directors unanimously recommends stockholders vote 'FOR' the CSG Transaction. October 9th is the last possible date for the special meeting before the merger agreement's termination date of October 15th. The Board remains committed to maximizing value for stockholders.
Stockholders needing assistance can contact Innisfree M&A Incorporated. Morgan Stanley & Co. and Cravath, Swaine & Moore LLP are advising Vista Outdoor, while Moelis & Company and Gibson, Dunn & Crutcher LLP are advising the independent directors.
Vista Outdoor Inc. (NYSE: VSTO) ha annunciato il rinvio della sua riunione speciale degli azionisti a 9 ottobre 2024, alle 9:00 (ora centrale). L'incontro ha lo scopo di votare e approvare la fusione con il Czechoslovak Group a.s. (CSG). L'azienda sta attivamente discutendo con CSG e una società di private equity in collaborazione con MNC Capital riguardo a una potenziale vendita di Revelyst.
Il Consiglio di Amministrazione raccomanda all'unanimità agli azionisti di votare 'A FAVORE' della Transazione CSG. Il 9 ottobre è l'ultima data possibile per l'incontro speciale prima della data di scadenza dell'accordo di fusione, fissata al 15 ottobre. Il Consiglio rimane impegnato a massimizzare il valore per gli azionisti.
Gli azionisti che necessitano assistenza possono contattare Innisfree M&A Incorporated. Morgan Stanley & Co. e Cravath, Swaine & Moore LLP stanno fornendo consulenza a Vista Outdoor, mentre Moelis & Company e Gibson, Dunn & Crutcher LLP stanno assistendo i direttori indipendenti.
Vista Outdoor Inc. (NYSE: VSTO) ha anunciado la suspensión de su reunión especial de accionistas para el 9 de octubre de 2024, a las 9:00 am (hora central). La reunión tiene como objetivo votar y aprobar la fusión con Czechoslovak Group a.s. (CSG). La compañía está discutiendo activamente con CSG y una firma de capital privado asociada con MNC Capital sobre una posible venta de Revelyst.
La Junta Directiva recomienda unánimemente a los accionistas votar 'A FAVOR' de la Transacción CSG. El 9 de octubre es la última fecha posible para la reunión especial antes de la fecha de terminación del acuerdo de fusión, que es el 15 de octubre. La Junta se compromete a maximizar el valor para los accionistas.
Los accionistas que necesiten asistencia pueden contactar a Innisfree M&A Incorporated. Morgan Stanley & Co. y Cravath, Swaine & Moore LLP están asesorando a Vista Outdoor, mientras que Moelis & Company y Gibson, Dunn & Crutcher LLP están asesorando a los directores independientes.
비스타 아울도어 주식회사(Vista Outdoor Inc.)(NYSE: VSTO)는 주주 특별 회의를 2024년 10월 9일 오전 9시(중부 표준시)로 연기한다고 발표했습니다. 이 회의의 목적은 체코슬로바크 그룹 a.s.(CSG)와의 합병에 대한 투표 및 승인을 하는 것입니다. 회사는 CSG 및 MNC 캐피탈과 파트너십을 맺고 있는 사모펀드와 함께 Revelyst의 잠재적 매각에 대해 활발히 논의하고 있습니다.
이사회는 주주들에게 'CSG 거래에 찬성'하는 투표를 하도록 일치된 의견으로 권장합니다. 10월 9일은 합병 계약의 종료일인 10월 15일 이전의 마지막 특별 회의 날짜입니다. 이사회는 주주 가치를 극대화하는 데 전념하고 있습니다.
도움이 필요한 주주는 Innisfree M&A Incorporated에 연락할 수 있습니다. Morgan Stanley & Co. 및 Cravath, Swaine & Moore LLP는 비스타 아울도어에 조언하고 있으며, Moelis & Company 및 Gibson, Dunn & Crutcher LLP는 독립 이사들에게 자문을 제공하고 있습니다.
Vista Outdoor Inc. (NYSE: VSTO) a annoncé le report de sa réunion spéciale des actionnaires au 9 octobre 2024, à 9h00 (heure centrale). Cette réunion a pour but de voter et d'approuver la fusion avec le Czechoslovak Group a.s. (CSG). L'entreprise discute activement avec CSG et une société de capital-investissement associée à MNC Capital concernant une vente potentielle de Revelyst.
Le conseil d'administration recommande à l'unanimité aux actionnaires de voter 'POUR' la transaction CSG. Le 9 octobre est la dernière date possible pour la réunion spéciale avant la date d'expiration de l'accord de fusion, fixée au 15 octobre. Le conseil reste déterminé à maximiser la valeur pour les actionnaires.
Les actionnaires ayant besoin d'assistance peuvent contacter Innisfree M&A Incorporated. Morgan Stanley & Co. et Cravath, Swaine & Moore LLP conseillent Vista Outdoor, tandis que Moelis & Company et Gibson, Dunn & Crutcher LLP conseillent les administrateurs indépendants.
Vista Outdoor Inc. (NYSE: VSTO) hat die Vertagung seiner außerordentlichen Hauptversammlung der Aktionäre auf den 9. Oktober 2024, um 9:00 Uhr (Central Time) bekanntgegeben. Bei der Versammlung soll über die Genehmigung der Fusion mit der Czechoslovak Group a.s. (CSG) abgestimmt werden. Das Unternehmen führt derzeit aktive Gespräche mit CSG sowie einer private Equity-Gesellschaft, die mit MNC Capital zusammenarbeitet, über einen möglichen Verkauf von Revelyst.
Der Vorstand empfiehlt einstimmig den Aktionären, 'FÜR' die CSG-Transaktion zu stimmen. Der 9. Oktober ist das letzte mögliche Datum für die außerordentliche Hauptversammlung vor dem Fälligkeitsdatum des Fusionsvertrags am 15. Oktober. Der Vorstand bleibt verpflichtet, den Wert für die Aktionäre zu maximieren.
Aktionäre, die Unterstützung benötigen, können Innisfree M&A Incorporated kontaktieren. Morgan Stanley & Co. sowie Cravath, Swaine & Moore LLP beraten Vista Outdoor, während Moelis & Company und Gibson, Dunn & Crutcher LLP die unabhängigen Direktoren beraten.
- Active discussions for potential sale of Revelyst
- Board's commitment to maximizing stockholder value
- Unanimous board recommendation for the CSG Transaction
- Adjournment of special meeting indicates potential complications in the merger process
- time frame before merger agreement termination date
Continues Active Discussions with CSG and Private Equity Firm Regarding Potential Sale of Revelyst
Vista Outdoor notes that October 9th is the last possible date for the Company to hold the special meeting ahead of the termination date in the merger agreement with CSG of October 15th.
The Board remains committed to maximizing value for Vista Outdoor stockholders and will continue to take all actions to achieve this objective.
The Board of Directors unanimously recommends Vista Outdoor stockholders vote “FOR” the CSG Transaction at the upcoming special meeting of stockholders, which will be held at 9:00 am (Central Time) on October 9, 2024.
Vista Outdoor stockholders who need assistance completing the proxy card, need additional copies of the proxy materials or have questions regarding the upcoming meeting may contact the Company’s proxy solicitor, Innisfree M&A Incorporated at +1 (877) 750-9499 (toll free) or +1 (212) 750-5833 (banks and brokers).
Morgan Stanley & Co. LLC is acting as sole financial adviser to Vista Outdoor and Cravath, Swaine & Moore LLP is acting as legal adviser to Vista Outdoor. Moelis & Company LLC is acting as sole financial adviser to the independent directors of Vista Outdoor and Gibson, Dunn & Crutcher LLP is acting as legal adviser to the independent directors of Vista Outdoor.
About Vista Outdoor Inc.
Vista Outdoor (NYSE: VSTO) is the parent company of more than three dozen renowned brands that design, manufacture and market sporting and outdoor products. Brands include Bushnell, CamelBak, Bushnell Golf, Foresight Sports, Fox Racing, Bell Helmets, Camp Chef, Giro, Simms Fishing, QuietKat, Stone Glacier, Federal Ammunition, Remington Ammunition and more. Our reporting segments, Outdoor Products and Sporting Products, provide consumers with a wide range of performance-driven, high-quality and innovative outdoor and sporting products. For news and information, visit our website at www.vistaoutdoor.com
Forward-Looking Statements
Some of the statements made and information contained in this press release, excluding historical information, are “forward-looking statements,” including those that discuss, among other things: Vista Outdoor Inc.’s (“Vista Outdoor”, “we”, “us” or “our”) plans, objectives, expectations, intentions, strategies, goals, outlook or other non-historical matters; projections with respect to future revenues, income, earnings per share or other financial measures for Vista Outdoor; and the assumptions that underlie these matters. The words “believe,” “expect,” “anticipate,” “intend,” “aim,” “should” and similar expressions are intended to identify such forward-looking statements. To the extent that any such information is forward-looking, it is intended to fit within the safe harbor for forward-looking information provided by the Private Securities Litigation Reform Act of 1995.
Numerous risks, uncertainties and other factors could cause our actual results to differ materially from the expectations described in such forward-looking statements, including the following: risks related to the previously announced transaction among Vista Outdoor, Revelyst, Inc. (“Revelyst”), CSG Elevate II Inc., CSG Elevate III Inc. and CZECHOSLOVAK GROUP a.s. (the “Transaction”), including (i) the failure to receive, on a timely basis or otherwise, the required approval of the Transaction by our stockholders, (ii) the possibility that any or all of the various conditions to the consummation of the Transaction may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals), (iii) the possibility that competing offers or acquisition proposals may be made, (iv) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement relating to the Transaction, including in circumstances which would require Vista Outdoor to pay a termination fee, (v) the effect of the announcement or pendency of the Transaction on our ability to attract, motivate or retain key executives and employees, our ability to maintain relationships with our customers, vendors, service providers and others with whom we do business, or our operating results and business generally, (vi) risks related to the Transaction diverting management’s attention from our ongoing business operations and (vii) that the Transaction may not achieve some or all of any anticipated benefits with respect to either business segment and that the Transaction may not be completed in accordance with our expected plans or anticipated timelines, or at all; risks related to the review of strategic alternatives announced on July 30, 2024 (“Review”), including (i) the terms, structure, benefits and costs of any transaction that may result from the Review, (ii) the timing of any such transaction that may result from the Review and whether any such transaction will be consummated at all, (iii) the effect of the announcement of the Review on our ability to attract, motivate or retain key executives and employees, our ability to maintain relationships with our customers, vendors, service providers and others with whom we do business, or our operating results and business generally, (iv) risks related to the Review diverting management’s attention from our ongoing business operations, (v) the costs or expenses resulting from the Review, (vi) any litigation relating to the Review and (vii) the Review may not achieve some or all of any anticipated benefits of the Review; impacts from the COVID-19 pandemic on our operations, the operations of our customers and suppliers and general economic conditions; supplier capacity constraints, production or shipping disruptions or quality or price issues affecting our operating costs; the supply, availability and costs of raw materials and components; increases in commodity, energy, and production costs; seasonality and weather conditions; our ability to complete acquisitions, realize expected benefits from acquisitions and integrate acquired businesses; reductions in or unexpected changes in or our inability to accurately forecast demand for ammunition, accessories, or other outdoor sports and recreation products; disruption in the service or significant increase in the cost of our primary delivery and shipping services for our products and components or a significant disruption at shipping ports; risks associated with diversification into new international and commercial markets, including regulatory compliance; our ability to take advantage of growth opportunities in international and commercial markets; our ability to obtain and maintain licenses to third-party technology; our ability to attract and retain key personnel; disruptions caused by catastrophic events; risks associated with our sales to significant retail customers, including unexpected cancellations, delays, and other changes to purchase orders; our competitive environment; our ability to adapt our products to changes in technology, the marketplace and customer preferences, including our ability to respond to shifting preferences of the end consumer from brick and mortar retail to online retail; our ability to maintain and enhance brand recognition and reputation; our association with the firearms industry; others’ use of social media to disseminate negative commentary about us, our products, and boycotts; the outcome of contingencies, including with respect to litigation and other proceedings relating to intellectual property, product liability, warranty liability, personal injury, and environmental remediation; our ability to comply with extensive federal, state and international laws, rules and regulations; changes in laws, rules and regulations relating to our business, such as federal and state ammunition regulations; risks associated with cybersecurity and other industrial and physical security threats; interest rate risk; changes in the current tariff structures; changes in tax rules or pronouncements; capital market volatility and the availability of financing; foreign currency exchange rates and fluctuations in those rates; general economic and business conditions in
You are cautioned not to place undue reliance on any forward-looking statements we make, which are based only on information currently available to us and speak only as of the date hereof. A more detailed description of risk factors that may affect our operating results can be found in Part 1, Item 1A, Risk Factors, of our Annual Report on Form 10-K for fiscal year 2024, and in the filings we make with the SEC from time to time. We undertake no obligation to update any forward-looking statements, except as otherwise required by law.
No Offer or Solicitation
This communication is neither an offer to sell, nor a solicitation of an offer to buy any securities, the solicitation of any vote, consent or approval in any jurisdiction pursuant to or in connection with the Transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Additional Information and Where to Find It
These materials may be deemed to be solicitation material in respect of the Transaction. In connection with the Transaction, Revelyst, a subsidiary of Vista Outdoor, filed with the SEC on January 16, 2024 a registration statement on Form S-4 in connection with the proposed issuance of shares of common stock of Revelyst to Vista Outdoor stockholders pursuant to the Transaction, which Form S-4 includes a proxy statement of Vista Outdoor that also constitutes a prospectus of Revelyst (the “proxy statement/prospectus”). INVESTORS AND STOCKHOLDERS ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING OUR PROXY STATEMENT/PROSPECTUS, BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE TRANSACTION. The registration statement was declared effective by the SEC on March 22, 2024, and we have mailed the definitive proxy statement/prospectus to each of our stockholders entitled to vote at the meeting relating to the approval of the Transaction. Investors and stockholders may obtain the proxy statement/prospectus and any other documents free of charge through the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by Vista Outdoor are available free of charge on our website at www.vistaoutdoor.com.
Participants in Solicitation
Vista Outdoor, Revelyst, CSG Elevate II Inc., CSG Elevate III Inc. and CZECHOSLOVAK GROUP a.s. and their respective directors, executive officers and certain other members of management and employees, under SEC rules, may be deemed to be “participants” in the solicitation of proxies from our stockholders in respect of the Transaction. Information about our directors and executive officers is set forth in our proxy statement on Schedule 14A for our 2024 Annual Meeting of Stockholders, which was filed with the SEC on July 24, 2024, and subsequent statements of changes in beneficial ownership on file with the SEC. These documents are available free of charge through the SEC’s website at www.sec.gov. Additional information regarding the interests of potential participants in the solicitation of proxies in connection with the Transaction, which may, in some cases, be different than those of our stockholders generally, is also included in the proxy statement/prospectus relating to the Transaction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240923643707/en/
Investor:
Tyler Lindwall
Phone: 612-704-0147
Email: investor.relations@vistaoutdoor.com
Media:
Eric Smith
Phone: 720-772-0877
Email: media.relations@vistaoutdoor.com
Source: Vista Outdoor Inc.
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