June 6 (Reuters) - Investment firm MNC Capital has

raised its offer to acquire sporting and outdoor goods company

Vista Outdoor ( VSTO ) to $39.50 per share, or over $3 billion,

the investment firm said on Thursday.

Shares of Vista Outdoor ( VSTO ) rose 8.4% to $37.34 in premarket

trading.

Vista Outdoor ( VSTO ) had rejected MNC Capital's proposal in May,

despite engaging with the investment firm to increase its bid of

$37.50 per share, saying it undervalued the performance gear

business.

MNC Capital had raised its all-cash bid to acquire Vista to

$37.50 per share in March, after the outdoor goods company

turned down a previous offer of $2.90 billion, or $35 per share.

Vista had also agreed to sell its sporting products business

to Czechoslovak Group for $1.96 billion last month, after the

Prague-based defense firm raised its offer to acquire the unit

from the company.

Vista did not immediately respond to a request for comment.