Vista Outdoor Ammo Division Sale News

[drop_point]

Vista Outdoor exploring alternative options instead of selling ammunition arm to foreign company

Among the options Vista is reviewing before the next shareholder meeting is to re-engage in talks with MNC in hopes of landing a larger proposal from the venture capital group.

www.foxbusiness.com

Vista Outdoor is reviewing "strategic alternative" options after multiple shareholders denounced the sale of its ammunition branch to Czech holding company Czechoslovak Group (CSG).


Vista's decision comes the same day that the company was supposed to hold its shareholder meeting to vote on the sale of The Kinetic Group to CSG. Two of Vista’s largest shareholders, Gates Capital Management and GAMCO Asset Management, both publicly opposed the deal while simultaneously supporting MNC Capital Management’s all-cash offer of $3.2 billion to purchase Kinetic and its outdoor branch Revelyst.

Remington .223 caliber cartridges. (Silas Stein/picture alliance via Getty Images / Getty Images)
"The PVC views MNC Capital’s fully financed $42 per share all-cash offer as superior to the proposed sale of The Kinetic Group to CSG," GAMCO said in a recent letter to Vista's board. "We encourage the board to reconsider its position and engage with MNC Capital."

REMINGTON'S SALE OF ITS AMMUNITION ARM TO A FOREIGN BUYER IS RAISING EYEBROWS

Among the options Vista is reviewing before the next shareholder meeting is to re-engage in talks with MNC in hopes of landing a larger proposal from the venture capital group. MNC has said it is willing to go higher, but does not currently see any reason to increase the current offer.

Vista decided to adjourn its meeting until Sept. 13, marking the sixth time this year that the company has done so. Vista is adamant that it is still committed to "acting in the best interests of the company and its stockholders."

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CSG did not respond to FOX Business' request for comment.

 

[Just Say Moe]

Hmmm, investors smarter than the BOD and FTC??

 

[CJ6]

Been following this for a while. It's all about making money for the shareholders. Whether or not this is in the best interest of the company is yet to be seen.

 

[Bill K]

Not the way it works

ln my opinion, these US ammunition companies should stay USA owned because they are vital for the defense of our NATION. ln this case, its America FIRST, shareholders second

now day, nor how it is thought. It is only what will return the most dollars into pockets and bank accounts.

 

[jpjulian]

I sent my proxy vote today against the BOD and their salaries. The annual statement mentions the sale to CSG and the BOD support for the sale but there was no shareholder vote offered.

 

[NZ_Fclass]

Hmmm, investors smarter than the BOD and FTC??

Nothing to do with the left's globalist agenda, then?

 

[drop_point]

I'd love for Vista to sell to Americans over foreigners.

I know the US makes most its military ammunition, brass, and bullets in the middle of the country at Lake City and powder comes from an American company, well mostly. But what about primers? It seems Vista's companies make CCI, Federal, and Remington primers. That's a lot to put in foreign hands.

Blackrock, Berkshire Hathaway, and the other usual suspects are HEAVILY invested in Vista Outdoors and driving these decisions.

 

[Hohn]

I'd love for Vista to sell to Americans over foreigners.


Blackrock, Berkshire Hathaway, and the other usual suspects are HEAVILY invested in Vista Outdoors and driving these decisions.

Yes, the if there’s a quick buck to make (or a billion of them), then screw everyone else.

These huge companies have no loyalty to the USA— the are “citizens of the world.”

 

[Just Say Moe]

Nothing to do with the left's globalist agenda, then?

It's exactly that.

 

[ssv1761982]

Does anybody remember when companies made high quality products at a reasonable price? That created long term shareholder value.

 

[LCazador]

I thought there was opposition in the senate with sale to CSG. They considered it a national security issue and I believe that's why sale to CSG was cancelled.

 

[drop_point]

I sure hope.

 

[CJ6]

From what I've read it's cleared the NS issue. Right now it's some tockholders that are raising a stink between an all cash deal or CSG. In other words "We want more money ".

 

[shortgrass]

From what I've read it's cleared the NS issue. Right now it's some tockholders that are raising a stink between an all cash deal or CSG. In other words "We want more money ".

With the chance of MORE ground wars erupting and the demand for conventional munitions increasing, sure they want 'more money', as business is 'brisk'. It is called "value".

 

[CJ6]

With the chance of MORE ground wars erupting and the demand for conventional munitions increasing, sure they want 'more money', as business is 'brisk'. It is called "value".

It's, All Cash vs less cash with stock right now.
As it has been for awhile. The one group wants a higher cash offer vs the others would take the cash/stock offer.

 

[FNSafari]

Vista Outdoor exploring alternative options instead of selling ammunition arm to foreign company

Among the options Vista is reviewing before the next shareholder meeting is to re-engage in talks with MNC in hopes of landing a larger proposal from the venture capital group.

www.foxbusiness.com

Vista Outdoor is reviewing "strategic alternative" options after multiple shareholders denounced the sale of its ammunition branch to Czech holding company Czechoslovak Group (CSG).


Vista's decision comes the same day that the company was supposed to hold its shareholder meeting to vote on the sale of The Kinetic Group to CSG. Two of Vista’s largest shareholders, Gates Capital Management and GAMCO Asset Management, both publicly opposed the deal while simultaneously supporting MNC Capital Management’s all-cash offer of $3.2 billion to purchase Kinetic and its outdoor branch Revelyst.

Remington .223 caliber cartridges. (Silas Stein/picture alliance via Getty Images / Getty Images)
"The PVC views MNC Capital’s fully financed $42 per share all-cash offer as superior to the proposed sale of The Kinetic Group to CSG," GAMCO said in a recent letter to Vista's board. "We encourage the board to reconsider its position and engage with MNC Capital."

REMINGTON'S SALE OF ITS AMMUNITION ARM TO A FOREIGN BUYER IS RAISING EYEBROWS

Among the options Vista is reviewing before the next shareholder meeting is to re-engage in talks with MNC in hopes of landing a larger proposal from the venture capital group. MNC has said it is willing to go higher, but does not currently see any reason to increase the current offer.

Vista decided to adjourn its meeting until Sept. 13, marking the sixth time this year that the company has done so. Vista is adamant that it is still committed to "acting in the best interests of the company and its stockholders."

GET FOX BUSINESS ON THE GO BY CLICKING HERE

CSG did not respond to FOX Business' request for comment.

I wonder what the breakup cost will be to Vista if they don't go through with the sale to the czech group??

 

[urbanrifleman]

They considered it a national security issue

What is most concerning is that 99.5 percent of Congress DOESN'T consider this a national issue...

 

[Old Navy]

I having read anywhere that the Czechs will pack up the factories and move them over seas.

 

[jpjulian]

I having read anywhere that the Czechs will pack up the factories and move them over seas.

CSG has said they are committed to the US. Committments can change of course.